#UAE Rail Operator Seeks Adviser to Raise Up to $3 Billion - Bloomberg

U.A.E. Rail Operator Seeks Adviser to Raise Up to $3 Billion - Bloomberg:

Etihad Rail PJSC is seeking a financial adviser to raise as much as $3 billion to build the second stage of a rail network in the United Arab Emirates, four people with knowledge of the plan said.

The Abu Dhabi-based company may seek $2 billion to $3 billion in loans for the project, said the people, asking not to be identified because the information is private. The funds will be used to lay more than 600 kilometers (373 miles) of track from Ghuweifat, at the Saudi border, to Fujairah on the U.A.E.’s east coast.

The U.A.E.’s Ministry of Finance and Abu Dhabi’s Department of Finance are also helping finance the second stage of the project.