UAE to Set Up 1500-Km Freight, Rail System
The UAE is in process of developing the state-of the art 1500-kilometre long freight and passengers rail network in next eight years, a top official said
he UAE is in process of developing the state-of the art 1500-kilometre long freight and passengers rail network in next eight years, a top official said.
The development of the Union Railway marks the beginning of an era of long-term investment in building most modern rail networks across the nation and the region as a whole.
A high-level delegation headed by Chairman Union Railway Hussain Al Nowais is currently visiting the US to identify areas for future collaboration with the US firms and related government agencies. They met with the US’ largest freight rail companies and locomotive manufacturers.
In the US capital, the delegation met with US rail policy makers and rail regulatory, safety and security experts.
“We are confident that our vibrant trade and investment partnership will only grow stronger over the years,” said Al Nowais. Richard Bowker, Chief Executive Officer of Union Railway, gave an update on the status of Union Railway’s plan to develop a national freight and passenger system throughout the seven Emirates in the next eight years.
Bowker emphasised that while this is a new industry for the UAE, it will also bring “opportunities for partners in the United States and around the world to participate in an exciting and unique venture.”
Remarking on the growing relationship between the US and UAE, Al Nowais said, “Our robust economic partnership has positioned us as a regional leader. Today, the UAE stands as the United States’ single largest export market in the Middle East and ranks 18th in the world, ahead of India.”
Al Nowais, who is also the Chairman of Abu Dhabi Basic Industries Corporation (ADBIC), Emirates Steel and Khalifa Fund for Enterprise Development, called on American businessmen and investment companies to invest in Abu Dhabi, highlighting its strategic location, secure and politically-stable environment, advanced logistical infrastructure and liberal trade environment.
The chairman stressed the UAE’s commitment, in line with Abu Dhabi Economic Vision 2030, to building a sustainable and diversified economy with a “thriving industrial and logistics sector.”
He went on to say that the Government of Abu Dhabi is heavily investing in industry, to grow the industrial sector’s current contribution from 12-25 per cent of total GDP.
“A number of key players and organisations have been actively championing this cause and helping to shape this economic transformation, industrial vision and strategy,” Al Nowais said, referring to ADBIC, EMAL, Emirates Steel, Borouge, Chemaweyaat, and the Higher Corporation for Specialized Economic Zones or ZonesCorp.
With major investments to develop sustainable industrial growth, Abu Dhabi is positioning itself as a regional industrial hub, especially in key industries such as aluminum, steel and petrochemicals. In turn, these industries provide the raw materials and primary products to the converting industries, as well as the small and medium enterprises, which altogether create a strong industrial base that help drive the Emirate’s economic diversification initiatives.
