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FINANCIAL NEWS
Etihad Rail to start phase 2 of UAE’s rail network
17 Nov 2011
(MENAFN) Etihad Rail said it will launch the second phase of its USD11 billion national railway network projects in weeks, Reuters reported.
Richard Bowker, CEO of Etihad Rail said the company will award contracts of the second phase by the third quarter of 2012.
The second phase includes linking Abu Dhabi rail network to Jebel Ali in Dubai as well as connecting to the borders of Saudi Arabia and Oman.
The UAE railway network includes three phases with the first one linking Habshan and Ruwais, west of the country by 2013, and the second phase will connect Shah and Habshan by 2014. while the third phase will connect the northern emirates.
UAE’s rail network forms part of the GCC Railway Network – linking the UAE to Saudi Arabia via Ghweifat in the west and Oman via Al Ain in the east.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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