UAE's Etihad Rail suspends stage two tendering reviews investment

Date

1/27/2016 8:28:53 AM

(MENAFN- The Peninsula)

DUBAI: Etihad Rail the state-backed firm building a railway network in the United Arab Emirates on Tuesday said it had suspended the tendering process for stage two of the project as it reviewed the investment.

The company was reviewing the options for the timing and delivery of that phase of the project it said in a statement.

Stage two of Etihad Rail involves the construction of a rail network in Abu Dhabi by connecting its borders with Saudi Arabia and Oman as well as connecting other areas within the UAE.

The UAE government has begun to slow some spending and review construction plans in some areas as low oil prices hit state finances.

REUTERS

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