By IANS,
Abu Dhabi : The United Arab Emirates (UAE) government is to launch a railway company which would be involved in “owning, leasing, renting, purchasing and selling of trains” in the country, WAM news agency reported Wednesday.
UAE President Sheikh Khalifa bin Zayed Al Nahyan approved the federal law for setting up the Etihad Trains Company Wednesday.
The company would be run by a board of “not less than seven members” and would have a starting capital of $272 million.
The company “shall strive to link the rural areas with the urban areas of the country to accelerate growth and development and facilitate easy, cheap and safe means of transport to minimise environmental pollution from cars,” the report said.
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