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FINANCIAL NEWS
New UAE law to set USD25 b transport investment in motion
06 Sep 2013
(MENAFN) The UAE will issue a new national transport law by next year to set USD25 billion of investments in railroads and metros in motion, The National reported.
In the first phase of the railroad and metro investment, an industrial line to move sulphur from the Shah gasfield to Hbshan will be finished this year.
In the second phase, a 628 kilometer-long track will be built to link major cities and industrial hubs within the UAE and connect to an international railway network connecting all GCC countries.
The Minister of Public Works and chairman of the National Transport Authority (NTA), Abdulla Al Nuaimi, said: “We want to make the United Arab Emirates again as a hub.”
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