RITES Limited Partners with Etihad Rail for UAE Railway Development

RITES Limited has signed a Memorandum of Understanding (MoU) with Etihad Rail, the developer and operator of the UAE National Rail Network, to explore collaborative opportunities in railway development and related infrastructure services in the UAE and wider region. 

The MoU was signed by Mr Shadi Malak, CEO of Etihad Rail, and Mr Rahul Mithal, Chairman and Managing Director of RITES Ltd, during the Global Rail Transport Infrastructure Exhibition & Conference in Abu Dhabi.

This partnership aims to leverage the strengths of both entities to explore opportunities in areas such as the supply and leasing of rolling stock, consultancy, and project management for railway projects. Additionally, the agreement covers services such as the repair of rolling stock and the operation and maintenance of railway infrastructure, all with the goal of ensuring more efficient and modernised rail services in the UAE and surrounding regions.

One of the key initiatives under the MoU is the capacity analysis of rail corridors, aimed at improving efficiency, streamlining logistics, and enhancing trade routes. The collaboration will also focus on advanced IT solutions for train operations, passenger management, and maintenance practices. 

Furthermore, knowledge transfer, expertise sharing, and workforce development will be prioritised, with comprehensive training programs and employee exchange initiatives forming a crucial part of the partnership. This collaboration underscores the commitment of both parties to innovation and modernisation in the railway sector.

Commenting on this significant collaboration, the Chairman and Managing Director of RITES Ltd, Mr Rahul Mithal, said, “This strategic collaboration with Etihad Rail underscores our strengths and commitment to operational excellence and innovation while contributing to sustainable infrastructure development. It represents a significant advancement in our strategic initiative of ‘RITES Videsh’, aimed at expanding our global services. Together, the entities are laying the foundation to significantly contribute to enhanced connectivity, setting new benchmarks of excellence in the industry.”

The CEO of Etihad Rail, Mr Shadi Malak, stated, “This strategic partnership with RITES marks a significant step towards our vision of enhancing connectivity and transforming the transportation landscape in the UAE. Guided by the vision and support of our wise leadership, we will leverage our combined expertise to modernise and enhance the efficiency of the UAE National Railway Network, sharing and exchanging knowledge and solutions to benefit this growing sector.”

He further added, “Through this collaboration, we will yield forward-thinking, innovative solutions that benefit both our freight services and future passenger services, contributing to the overall infrastructure and operational excellence of the region.”

On October 9, 2024, the share price of RITES Ltd opened at ₹306.00, touching the day’s high at ₹324.60, as of 10:39 AM on the NSE.

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