INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

$3 billion joint-venture railway to link Oman and UAE

Employees working in the main wagon of a train of the Etihad Rail network, in al-Mirfa, in the UAE. (AFP)
  • The railway will link Abu Dhabi with Oman's deep-sea Sohar port, which bills itself as a nexus of trade between Asia and Europe.
  • A multi-billion dollar railway linking the six Gulf Cooperation Council countries has languished since a feasibility study was approved in 2004.

Muscat, Oman —A new $3 billion railway is to link Oman’s Sohar port with Abu Dhabi, capital of the United Arab Emirates, officials said on Wednesday.

The 303-kilometre (188 miles) railway, with passenger trains travelling up to 200 kilometres per hour, will join up with the UAE’s national network that is now under construction.

The joint venture between Oman Rail and the UAE’s Etihad Rail was agreed during a visit by UAE President Sheikh Mohamed bin Zayed to the Omani capital Muscat.

“The railway… promises huge strategic economic and social gains,” Abdulrahman Salim Al Hatmi, Group CEO of Oman Rail’s parent company Asyad, said in a statement issued by the Abu Dhabi government.

Sohar, a deep-sea port on the Gulf of Oman and itself a joint venture with the port of Rotterdam, bills itself as a nexus of trade between Asia and Europe.

No finish date was given for the project. A multi-billion dollar railway linking the six Gulf Cooperation Council countries has languished since a feasibility study was approved in 2004.

When completed, Etihad Rail, the UAE network, will operate 1,200 kilometres of track connecting all seven emirates and the border of neighbouring Saudi Arabia, as well as Oman.

Construction is 70 percent finished, according to its website, although the first stage — a remote line transporting sulphur through the Abu Dhabi desert — began full operations in 2016.