UAE and Oman sign $3bn shareholder agreement for cross-border railway network construction.

The UAE and Oman have signed a shareholder agreement to commence construction on a $3bn cross-border railway network. The joint venture between Etihad Rail, Oman Rail and Mubadala Investment Company will construct the 303 km Hafeet Rail, stretching from Abu Dhabi to Sohar. The UAE-Oman railway project aims to strengthen bilateral relations, support economic and commercial integration, and enhance social and cultural ties between the two nations.