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Union Railway's Memorandum of Association was signed between the Federal Government and Abu Dhabi Government to support and develop the transport sector in the UAE. |
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Thursday, 10 February 2011 07:35 |
This is the first project of its kind in UAE, aiming to achieve a number of objectives such as contributing in the development of economic sector in UAE through funding, operating, investing and managing the railways and trains in order to transport passengers and goods as well as establishing the relevant infrastructure; training technical national staff on railway transport work and management of same to connect all Emirates and their facilities together via a safe, integrated and fast transport network in accordance with the criteria, for fulfilling the continuous and sustainable of Emirati community. This will also contribute in achieving the development of all residents and habitants of UAE, as well as facilitating the economic and commercial connection between UAE and GCC countries through a state-of-the-art trains network which is in compliance with the highest international levels. The Company capital is AED1 billion, of which the contribution of Federal Government is 30% while the contribution of Abu Dhabi Government is 70%.
In this concern, H.E. Sheikh Hamdan Bin Mubarak Al Nahyan, Minister of Public Works and Chairman of the Board of the National Transport Authority, said "The establishment of the Company and its future work are included within the Federal Government plan under the auspices of UAE President His Highness Sheikh Khalifa Bin Zayed AL Nahyan in relation to the execution of the government main trends acquired from 2021 UAE vision which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. Such vision focused on the existence of a strong and competitive UAE economy. The National Transport Authority set its strategic objectives represented in strengthening the UAE railway transport industry in order to achieve the vision of the Authority, i.e. (Safe and Integrated Transport for Sustainable Growth)".
H.E. Nasser Ahmed Al Suwaidi, Union Railway's Chairman of the Board, said "The project of railway transport in the UAE, to be developed and managed by Union Railway, has economic and social benefits represented in the safety and effectiveness of passengers transport, from one side, and goods transport, from the other side. This will facilitate the business activities within UAE; and support cooperation with GCC countries through the future stage which will connect all railways network extending in GCC countries".
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