Global law firm Freshfields has advised a syndicate of Middle Eastern banks on the $1.5bn financing facility for Hafeet Rail, the first rail connection between Sohar, Oman, and Abu Dhabi, UAE. The financing marks a significant step in the development of the planned GCC railway, representing the first international segment of the broader regional network.
Hafeet Rail is a collaboration between Etihad Rail, Mubadala Investment Company, and Oman’s Asyad Group. The project, valued at $3bn, is set to enhance regional connectivity, with passenger trains expected to carry passengers at a speed of 200 km/hour and freight trains transporting over 15,000 tonnes of cargo per journey. The network will play a crucial role in linking major ports and industrial zones across the UAE and Oman, benefiting key sectors such as mining, retail, and petrochemicals.
The Freshfields team was led by partner Anna Nersesian, alongside senior associate Scott Cameron and associates Jeff Effah and Marat Gainutdinov, all based in Dubai. The team also included partner Fedor Teselkin, counsel Sara Barin, senior associate Amanda Mapanda, and associates Jonathan Chen and Jennifer Kanu, based in London.
