The United Arab Emirates’ cabinet has approved plans for Etihad Rail, the developer of a railway network in the country, to borrow 4.7 billion dirhams ($1.28 billion) to finance part of the construction, Dubai's ruler said on Sunday.
“We also approved during the meeting for Etihad Rail to borrow 4.7 billion dirhams to finance their new line to Al Ruwais,” Sheikh Mohammed bin Rashid al-Maktoum, who is also UAE vice-president, posted on his official Twitter feed.
No other details were provided.
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