UAE’s rail project back on track with financing sealed | Reuters:
Etihad Rail, the developer and operator of the United Arab Emirates’ national rail network, said on Tuesday the government has agreed financing for phase two of the project which was put on hold in 2016.
The financing deal signals that the project is back on track after delays partly due to bureaucracy, technical difficulties and financing issues as the government slowed spending due to low oil prices.
State-owned Etihad Rail had suspended the tendering process for phase two of the project in 2016, saying it was reviewing options for the timing and delivery.
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