(MENAFN- Khaleej Times) The Ministry of Finance and the Abu Dhabi Department of Finance have signed an agreement to fund the second stage of the national railway, Etihad Rail. It will extend 605 kilometres from Ghuweifat, on the border with Saudi Arabia, to Fujairah, on the east coast.
In a statement on Tuesday, Etihad Rail said the development would increase the volume of transported goods from seven million tonnes per year to more than 50 million tonnes. It did not give a figure for the financing.
sheikh Theyab bin Mohamed bin Zayed Al Nahyan, chairman of the Abu Dhabi Department of
transport and Etihad Rail's board of directors, attended the signing ceremony. Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, and Riyad Abdul Rahman Al Mubarak, head of the Abu Dhabi Department of Finance and Etihad Rail, signed the agreement.
This came on the sidelines of the UAE Government Annual Meetings, co-chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Sheikh Theyab said this national project marks a quantum leap for the transport sector of the UAE. Besides connecting the emirates, it will link industrial areas, boost economic diversity and support development across the country.
"The network will support the future growth with a sustainable, safe, modern and cost-effective transport system, as well as contribute to reducing the number of vehicles on the roads, which will yield tangible benefits from both economic and environmental perspectives," he said.
Etihad Rail has made major strides in 2018, including the completion of the preliminary designs for the rail network's second stage. Tenders for civil construction works will be launched by the end of this month.
In 2015, the first stage of the project, which extends 264km, was delivered, linking the Shah and Habshan gas fields in the Al Dhafra region of Abu Dhabi to the port of Ruwais on the Arabian Gulf. With a capacity of transferring 22,000 tonnes of sulfur granules daily, the railway was able to transport 20 million tonnes in total.
Etihad Rail is now in advanced stages of commercial and technical negotiations with an extended range of potential partners.
Six initiatives for future of economy
The UAE Government has adopted six initiatives to regulate e-commerce nationwide, promote the national economy, support and regulate public- private partnerships (PPP), achieve growth in the national non-oil commodity exports and reinforce the UAE's position as a hub for global investments.
>An initiative to implement Export-oriented Mechanisms, Strategies and Projects, which include schemes and initiatives with direct impact on increasing the value of non-oil commodity exports.
>Federal E-Commerce Platform initiative, which constitutes a tool for communication and interaction between licence holders and consumers.
>Regulatory Framework for E-Commerce Licensing and the Regulatory Framework for Transnational E-Commerce Companies initiatives will encourage fair competition among national and international companies in the e-commerce sector.
>UAE's Annual Economic Outlook Report" initiative to monitor future changes in the country's economy and the infrastructure dynamics. The report is based on the UAE macroeconomic model and analyses future developments.
>Providing Incentives for E-Commerce Licence Holders, especially UAE Nationals will promote entrepreneurship and innovation.
Five initiatives for transport sector
The initiatives on transport sector focus on leveraging advanced technologies to boost the safety and prepare the infrastructure for autonomous vehicles and high-speed means of transportation, while seeking sustainable and environment-friendly alternatives.
>The National Policy for Reducing Transport Sector's Emissions aims to identify the standards and specifications of electric vehicles, hybrid vehicles and hybrid electric vehicles.
>The National Strategy for Smart Transportation was launched to establish a global smart transportation system that guarantees integration and compatibility across federal and local levels, enhances traffic safety, reduces the environmental impact and increases economic productivity.
>Our Connected Cities initiative and a series of national programmes target enhancing the UAE competitiveness on the road connectivity index.
>The National Strategy for Regulating Maritime Sector initiative was launched to guarantee integration among all federal and local entities in order to enhance investment opportunities in this sector.
>The National Maritime Navigation System was launched, based on the integration between geographical information systems (GIS) and the different maritime data provided by all the local, federal and international partners.
3 housing development initiatives
Three new initiatives have been adopted to revolutinise the national housing sector with modern, eco-friendly designs and construction technologies. The Housing Working Group focused on key global trends and the impact of digital innovations on the sector. It pinpointed the means of availing comprehensive data to ensure the sustainability, productivity, high quality and safety.
>The Smart Construction Assessment System aims at enhancing productivity and encouraging the use of modern techniques in construction to reduce environmental impacts.
>The Smart Construction National Guide brings together innovative techniques and smart industries to identify materials, specifications and construction design parameters. It seeks to keep pace with the best international practices and promote modern industries.
>The Unified National Digital Housing Platform, 'Al Zajil', provides a digital system that unifies housing and other related data collected from local and federal housing programmes and other stakeholders. Expected to have an impact on residential decisions, the initiative analyses the latest housing trends and develops a strategic vision to meet current and future demand. Based on this analysis, housing services are set to be provided to citizens within two years of submitting the application.
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