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15-05-23

Oman, UAE Rail Network Signs MoU with Vale to Utilize Rail in Mining Sector

(MENAFN) Oman and Etihad Rail Co. have signed a memorandum of understanding (MoU) with Vale, one of the world's largest mining firms, to explore utilizing the UAE-Oman Rail Network in the mining sector. The MoU seeks to transport iron ore and its derivatives between Oman and the UAE, connecting Vale's industrial complex in Sohar Port and Freezone to its planned industrial complex in the UAE. The MoU was signed by Ahmed Al-Musawa Al-Hashemi, CEO of the Oman and Etihad Rail Co., and Rogerio Nogueira, director of business development at Vale.

The MoU highlights the interest of potential users in utilizing the UAE-Oman Railway Network and benefiting from its fast, sustainable, reliable, and cost-effective services, according to Al-Hashemi. The signing ceremony was witnessed by Suhail bin Mohammed Al-Mazrouei, minister of energy and infrastructure and chairman of Oman and Etihad Rail Co., and Elaina Zugaib, Brazilian ambassador to the UAE.

Al-Mazrouei stated that the agreement is in line with their desire to establish strategic partnerships with major companies in the UAE and Oman, supporting economic growth, continued development, and investment in both countries. The MoU supports Vale's plans to develop industrial complexes in the UAE and Oman to produce low-carbon products for the steelmaking industry, according to Nogueira. He added that Vale's partnership with Oman and Etihad Rail Co. reinforces the progress of the regional logistics sector, creating new job opportunities and providing high-quality transport solutions.

The MoU between Oman, UAE Rail Network, and Vale is expected to have a significant impact on the mining sector in the region. The utilization of rail to transport iron ore and its derivatives between Oman and the UAE is expected to be fast, sustainable, reliable, and cost-effective. The MoU highlights the interest of potential users in utilizing the UAE-Oman Railway Network, which is expected to benefit various economic and trade activities. The development of industrial complexes in the UAE and Oman to produce low-carbon products for the steelmaking industry is expected to boost economic growth, continued development, and investment in both countries. The partnership between Vale and Oman and Etihad Rail Co. is expected to reinforce the progress of the regional logistics sector, creating new job opportunities and providing high-quality transport solutions.
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