UAE $10 Billion Israel Fund Will Stress Ports and Railways

(Globes) Danny Zaken - Eilat port is one of the principle projects which will receive investment from the new $10 billion UAE strategic investment fund. The plan is to create a deep water port in the Gulf of Eilat/Aqaba, which will create a new shipping and railway trade route between the Persian Gulf and Europe. Sources tell Globes that most of the project will be financed by the Abu Dhabi Sovereign Fund. Another project for investment is a railway via Saudi Arabia and Jordan to Haifa Port. Israel's National Economic Council head Prof. Avi Simhon told Globes that the railway requires the completion of 300 km. - mainly in Jordan and Saudi Arabia. Simhon said these two project have immense geopolitical and economic significance and vast potential for Israel's economy.

2021-03-15 00:00:00

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