Saudi Arabia, UAE Sign MoU on Rail Connectivity, Electricity Interconnection
RIYADH, Oct 8 (Saudi Arabia Breaking News) — Saudi Arabia and the United Arab Emirates signed a memorandum of understanding in Riyadh on Thursday aimed at strengthening strategic cooperation in rail connectivity, infrastructure and energy integration.
The MoU was signed by UAE Minister of Investment Mohamed Hassan Alsuwaidi and Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy and Minister of Industry and Mineral Resources.
The agreement seeks to develop rail connectivity between the two countries, facilitate the movement of goods and cargo and create opportunities for greater infrastructure and energy-sector integration.
It establishes general principles for rail connectivity and provides for technical and economic studies aimed at strengthening logistics integration, improving supply-chain efficiency and facilitating cross-border trade and transport.
The framework is also intended to support economic development and broader regional integration.
In the energy sector, the MoU covers cooperation on electricity interconnection and the exchange and sale of electricity between Saudi Arabia and the UAE.
It provides for technical, economic and environmental feasibility studies to assess potential interconnection opportunities.
The two countries will also coordinate with other Gulf Cooperation Council member states on expanding the Gulf electricity interconnection system, with the aim of improving energy-system efficiency and strengthening regional connectivity.
