UAE’s Etihad Rail to seek $2bn for network expansion
Operator of the national rail network to approach banks for corporate loan
04 July 2019 - 18:59
Dubai — Etihad Rail, the developer and operator of the United Arab Emirates’ (UAE’s) national rail network, is expected to approach banks for about $2bn to help finance the expansion of the network, banking sources familiar with the matter said.
The UAE, which launched the first phase of its rail project in 2016, plans to have a network with 1,200km of track costing about $11bn, running from the border with Saudi Arabia to Fujairah emirate on the Gulf of Oman...
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