Banking giant HSBC has structured and financed a US$558m (AED2.04bn) working capital package for the civil works and construction contract for Package D of stage two of Etihad Rail’s national railway.
With the working capital facilities now in place, construction on the railway line has begun. An unincorporated joint venture between China Railway Construction Corporation (CRCC) and the UAE’s National Projects and Construction (NPC) company was awarded the contract by Etihad Rail in December 2019.
