ABU DHABI: Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, affirmed that the UAE-Oman Business Forum, held today, witnessed the announcement of the awarding of key contracts that support the UAE-Oman partnership and will serve as a turning point in increasing investment volume and boosting trade exchange between the two countries.
In his statements to the Emirates News Agency (WAM) on the sidelines of the UAE-Oman Business Forum held today in Abu Dhabi, the minister said that various agreements were signed to support vital sectors like industry, green energy, and hydrogen production, presenting an excellent opportunity for investments benefiting both the UAE and Oman economies.
The Minister confirmed the awarding of the Hafeet Rail project’s tender and actual work commencement during the forum. Hafeet Rail will connect two Gulf countries and align with the Gulf Railway, embodying a pioneering Gulf Cooperation Council (GCC) vision. The project aims to be a fast and efficient means of
connection, reducing car traffic and carbon footprint.
Al Mazrouei confirmed the route will connect the port of Sohar to Abu Dhabi, significantly reducing travel distance compared to traditional routes. He emphasised the train’s efficiency and affordability, noting its capacity for both freight and passenger transportation.
Prioritising cost-effectiveness, the Hafeet Rail project is valued at around $3 billion. The Minister reaffirmed their commitment to potentially achieve a lower final cost than the current estimate. Additionally, the project board aims to establish a record-breaking timeline for implementation.
Source: Emirates News Agency