Shadi Malak, CEO, Etihad Rail, and Bashar Al Malik, CEO, SAR, signed the strategic agreement during a virtual ceremony attended by officials from both entities. The agreement focuses on four key areas of cooperation including locomotives and wagons lease arrangements, spare parts purchase, special volunteer groups and shared services initiatives.
Malak said, “This strategic agreement is of strategic importance, due to the close ties between the UAE and the Kingdom of Saudi Arabia, under the wise and visionary leadership within both countries. Further expanding the close relationship between Etihad Rail and Saudi Railway Company (SAR) through continuous cooperation, which will shape the future of the rail transport and logistics sector across the GCC region.”
Al Malik also commented by saying, “Our agreement comes following the strategic and fraternal relationship between the Kingdom of Saudi Arabia and the UAE. We share deep historical ties and a bold vision for the future, reinforced by our similar outlook on a range of different viewpoints. Such a partnership is nurtured by our nations’ continued cooperation, and our mutual vision for the integration of our transportation sectors. This is particularly pertinent for the rail sector, which offers a pivotal role in wider social and economic development.”
The strategic agreement will also support identifying future initiatives, such as those in the field of technology and procurement, ensuring training curricula are up-to-date, optimal maintenance times, and other programs that enhance information exchange within the logistics and mobility sector.