Regardless of the sharp decline in budget spending and austerity policy, the UAE remains committed to one of its major infrastructure projects, the construction of the railway network, which gives hope to steel suppliers in the next stage.
Etihad Rail, the developer and operator of the integrated railway network in the Emirates, began construction of the second phase of the 605 km railway network in January 2020.
The value of the contracts amounts to $4.9 billion, which will benefit many sectors during the project completion stages.
Etihad Rail built its hub in Al Fea, in partnership with the French company Vinci Construction.
This project is part of a goal to create a railway network that supports the long-term growth of the country's economy.
The company is also building terminals in different regions, to handle the loading and unloading of trains, as well as to store and maintain containers.