Etihad Rail signs MoU with ZonesCorp | Etihad Rail signs MoU with ZonesCorp -
(clockwise from top): H.E. Nasser Ahmed Alsowaidi, Chairman of the Department of Economic Development, Chairman of Etihad Rail, and Chairman of the Higher Corporation for Special Economic Zones (ZonesCorp); H.E. Mohammed Hasan Al Qemzi, CEO of ZonesCorp; and H.E. Dr. Nasser Al Mansoori, CEO of Etihad Rail.

Etihad Rail signs MoU with ZonesCorp

: Saturday, February 01 - 2014 @ 12:45

In the presence of H.E. Nasser Ahmed Alsowaidi, Chairman of the Department of Economic Development, Chairman of Etihad Rail, and Chairman of the Higher Corporation for Special Economic Zones (ZonesCorp), Etihad Rail – the developer and operator of the UAE’s national railway network – has signed a Memorandum of Understanding (MoU) with ZonesCorp for the joint planning of railway and logistics facilities within the Industrial City of Abu Dhabi (ICAD). Signed by Etihad Rail CEO H.E. Dr. Nasser Al Mansoori and ZonesCorp CEO H.E. Mohammed Hasan Al Qemzi, the MoU outlines the collaboration between the two parties to integrate the rail network and terminal within the ICAD IV industrial area.

The Abu Dhabi Emirate’s largest multimodal terminal will be centred within ICAD IV to cater to ICAD IV’s surrounding industrial and logistics customers. Strategically located in close proximity to Abu Dhabi City, major transportation gateways, and logistics hubs, ICAD IV and the rail terminal within will increase industrial contribution to the Emirate’s GDP and contribute to economic diversification, in line with Abu Dhabi Economic Vision 2030 and UAE Vision 2021.

Commenting on the MoU, H.E. Dr. Nasser Al Mansoori, CEO of Etihad Rail, said: “Etihad Rail is part of a wider vision to drive economic growth and development in the UAE. The rail network will assist in integrating the supply chains for the UAE and GCC’s producers and consumers, bringing geographic markets closer together. This is in line with ICAD IV’s development plans as a logistics hub, concentrating a substantial amount of bulk and intermodal cargo in one key location. We look forward to continuing to work closely with ZonesCorp on a project that will bring such substantial benefits to the UAE.”

H.E. Mohammed Hasan Al Qemzi, CEO of ZonesCorp, said “Our partnership with Etihad Rail is an important milestone for ZonesCorp in our mission to support Abu Dhabi’s economic development. The around 600 industrial projects in ICAD will benefit from integrated solutions via the Etihad Rail terminal, as it will cater to demand for high-quality logistics services and further promote ICAD as an attractive industrial investment destination.”

Al Qemzi continued: “The rail terminal will be an added value for our investors in both the industrial and automotive sectors, supporting exports to regional and international markets by reducing transit and processing times for goods, and therefore making their operations more effective on the whole. We are honoured to be part of the strategic UAE railway project, and to work hand in hand with Etihad Rail towards a shared goal of sustainable economic growth in the UAE.”

Upon completion, the Etihad Rail network, which will cater to both freight and passengers, will span approximately 1,200 kilometres across the Emirates. It will connect urban and peripheral communities, facilitate trade, open up communication channels and foster economic development across all Emirates in the UAE. The network will also form a vital part of the GCC Railway Network, linking the UAE to Saudi Arabia via Ghweifat in the west and Oman via Al Ain in the east.

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Saturday, February 1- 2014 @ 12:45 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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