Etihad Rail - the developer and operator of the UAE's national railway network - announced today that it has secured financing of $1.28 billion (Dh4.7 billion) for Stage One of its railway project, which comprises the route from Shah and Habshan to Ruwais.
The chief executive of Etihad Rail confirmed in a media statement this morning that the locomotives for the first train are scheduled to arrive within the first quarter of 2013, and that Etihad Rail is on track to operating its first train this year itself.
"With the recent arrival of our wagons, the considerable headway being made in construction on Stage One, and as we look forward to the arrival of our locomotives later this quarter, Etihad Rail is on schedule to seeing the first train run from Habshan to Ruwais by the end of this year," Dr. Nasser Saif Al Mansoori, CEO of Etihad Rail , said.
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