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FinancialNews
24-02-22
Etihad Rail contracts USD542m deal for transportation scheme
(MENAFN) On Thursday, Etihad Rail inked a Dh1.99 billion (USD541.8 million) contract with First Abu Dhabi Bank to fund commuter railway transportation facilities.
The deal is a section of the UAE National Railways program, the first ever and biggest land transportation scheme in the nation.
According to Abu Dhabi Media Office statement, FAB is going to be the specialized lead planner for the debt, as part of the contract.
Based on Sheikh Theyab bin Mohamed bin Zayed, chairman of the Abu Dhabi Crown Prince’s Court and chairperson of Etihad Rail statement, “through this agreement with First Abu Dhabi Bank, we at Etihad Rail look forward to enhancing co-operation, uniting efforts and working together towards realising the vision of the UAE in accordance with the goals of the UAE National Railways programme, which was launched under the Projects of the 50 to establish the basis for a new stage of sustainable economic growth for the country."
MENAFN24022022000045013568ID1103757141
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