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FINANCIAL NEWS
Union Railways to open bidding for UAE rail project
12 May 2010
(MENAFN) State-owned Union Railways Company, which is in charge of an estimated $11 billion UAE railway, said that it plans to open the project to interested bidders in the coming two months, Reuters reported.
Chief Executive, Richard Bowker, said that the firm will be starting a formal solicitation process to seek expressions of interest in the near future.
Bowker added that the 1,500-kilometer railway network will operate on diesel engine but can be converted to electric.
He noted that an industry workshop was conducted in Abu Dhabi on March 24, attracting local, regional and international interest, adding that Union Railways is confident of getting a very competitive set of tenders when the solicitation process starts.
Union Railways plans to start operating the first phase of the network in 2013, starting with Ruwais to Habshan areas in Abu Dhabi, Bowker said. The preliminary survey is already underway, and the engineering team is building holes in the ground.
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