ETIHAD RAIL
H
H Sheikh Theyab Bin Mohamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court, and Chairman of Etihad Rail, and HE Sheikh Mohamed Bin Saif Bin Mohamed Al Nahyan, Vice Chairman of FAB’s Board of Directors (First Abu Dhabi Bank) recently witnessed the signing of an agreement between Etihad Rail and First Abu Dhabi Bank (FAB) for financing railway passenger transport services, with a total value of US$ 542mn (AED 1.990bn). The agreement comes as part of the UAE National Railways Programme, the largest land transport system of its kind in the UAE, where First Abu Dhabi Bank will be the Certified Lead Arranger for the loan, as part of the agreement.
The signing ceremony was attended by HE Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology; HE Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs; Jassim Al Zaabi, Member of the Executive Council and Chairman of the Abu Dhabi Department of Finance; Mattar Mohammed Al Tayer, Member of the Board of Directors of Etihad Rail and Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) in Dubai, as well as members of Etihad Rail’s Board of Directors, the Board of Directors of FAB, and a number of officials from the UAE Ministry of Finance and The Department of Finance in Abu Dhabi. The agreement was inked jointly
by Eng. Shadi Malak, Chief Executive Officer, Etihad Rail, and Hana Al Rostamani, Group Chief Executive Officer, First Abu Dhabi Bank.
‘Projects of the 50’ “Through this agreement with First Abu Dhabi Bank, we at Etihad Rail look forward to enhancing cooperation, uniting efforts, and working together towards realising the vision of the UAE in accordance with the goals of the UAE National Railways Programme, which was launched under the ‘Projects of the 50’ to establish the basis for a new stage of sustainable economic growth for the country,”affirmed HH Sheikh Theyab Bin Mohamed Bin Zayed Al Nahyan.
Etihad Rail signs financing agreement with First Abu Dhabi Bank Deal for enhancing passenger transport services valued at US$ 542mn was signed in the presence of top officials from stakeholder partners
46 MARCH 2022
