This agreement reflects the logistical importance that the project will provide to major international players in several different sectors, as they stand to benefit significantly from the competitive advantages and economic incentives of the project.
The signing ceremony was witnessed by Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure and Chairman of Oman and Etihad Rail Company, and Elaina Zugaib, Brazilian Ambassador to the UAE.
The MoU was signed by Ahmed Al Musawa Al Hashemi, CEO of the Oman and Etihad Rail Company, and Rogerio Nogueira, Director of Business Development at Vale.
Under the terms of the agreement, both parties will work to develop integrated logistics solutions that connect Vale’s industrial complex in Sohar Port and Freezone and transport the company’s iron ore products and derivatives between the company's Sohar hub and various factories and distribution centers.
The UAE Minister of Energy and Infrastructure, Chairman of Oman and Etihad Rail Company, said, "The agreement is in line with our desire to continue to work on and establish strategic partnerships with major companies in the United Arab Emirates and the Sultanate of Oman, supporting economic growth, continued development and investment in both countries.”
Commenting on the MoU, Rogério Nogueira, Product and Operations Manager at Vale said that the agreement supports Vale’s plans to develop industrial complexes in the UAE and Oman to produce low-carbon products for the steelmaking industry.
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