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Al Futtaim Tarmac Quarry Product Company, a subsidiary of Tarmac Middle East, has signed a memorandum of understanding (MoU) with Etihad Rail for the distribution of quarry products in the GCC
The MoU will enable Tarmac Middle East to transport quarry products from Ras Al Khaimah to Etihad Rail's distribution and export terminals across UAE, stated officials from Etihad Rail.
This agreement would also extend to other GCC countries once Etihad Rail completes the connection to the main GCC rail network by 2018, added officials.
Faris Saif Al Mazrouei, acting CEO of Etihad Rail, said, “We are very pleased to reach a mutually beneficial agreement that will enable Tarmac Middle East to enhance its logistical operations, while at the same time increase Etihad Rail’s distribution capacity beyond its export terminals.Etihad Rail will provide its partners with faster, higher capacity and lower cost transportation services across the UAE and GCC.”
By 2020, Tarmac Middle East is expected to transport six million metric tons of products via Etihad Rail. Tarmac Middle East, one of the largest suppliers of aggregates and asphalt in the Middle East,aims to reduce operating costs and enhance transit times with this deal, which would also allow Etihad Rail additional volumes of bulk commodities to transport to other sections within UAE.
Azmat Jafri, country manager of Al Futtaim Tarmac Quarry Product Company in UAE, said, “This is a significant milestone for our business and comes at a time when we are expanding rapidly in the UAE. Logistics and transport are some of our biggest operational costs. Utilising Etihad Rail services will provide us with cost-effective and reliable transport.”