The UAE cabinet has approved a Dh4.7 billion loan to finance construction of the first phase of the Etihad Rail national rail project.
The news was announced on the Twitter account of Sheikh Mohammed Bin Rashid, Ruler of Dubai and vice president of the UAE.
"The project is vital for the UAE," the Ruler wrote. The first phase will primarily transport sulphur from oil and gas fields to Al Rowais.
In October Etihad Rail signed a Dh3.3 bn deal with a consortium led by Saipem, Tecnimont and the UAE's Dodsai Engineering and Construction to build the link.
