Dubai RTA to spend US$5.45 billion over four years
Source: BI-ME with Reuters , Author: Posted by BI-ME staff
Posted: Tue May 17, 2011 1:31 pm

UAE. Dubai's Road and Transport Authority will spend about AED20 billion (US$5.45 billion) in the coming four years to fund projects but is not considering a hike in toll charges, an official said on Tuesday.

The RTA, which has spent more than AED55 billion in the past five years, will look to create public-private partnerships to fund projects, said Abdul Mohsin Ibrahmi Younes, chief executive for strategy and corporate governance.

Younes said higher charges for its Salik electronic toll collection system or creating new toll gates would not be an option to raise money for any future developments.

"Salik is not done to fund future projects but to control the traffic conditions," he said, adding if toll fares were raised, it would be to address changes related to the flow of traffic in the emirate.

In April, the government said it had hired local and international banks to raise $800 million by securitising road toll receipts and will use the proceeds to fund infrastructure projects in the Gulf emirate.

Younes said the RTA expected its new tram system for Dubai to be completed by 2014. The tram system, valued at AED3.2 billion, has been 30% completed.

The RTA also expected the green line of Dubai's metro to be completed by September. The 23 kilometre line was originally slated to open in April 2010.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: July 28, 2014
INTERNATIONAL. Janet Yellen is very different from any of her predecessors. She is likely the most dovish and politically leftist Fed Chair in the Central Bank's history; She sees the Fed's mission as a tool to promote progressive social policy.
date:Posted: July 28, 2014
QATAR. The potential in Indonesia is enormous and more rapid growth could generate opportunities for a number of foreign companies, says QNB Group report.
date:Posted: July 28, 2014
INTERNATIONAL. The diversified BBG Commodity Index was almost unchanged on the week; Geopolitical concerns will continue to play an important part when determining a price for crude oil.
INTERNATIONAL. In a presidential statement, the 15-member body expressed strong support for a ceasefire, and urged all parties to accept and fully implement it into the Eid period marking the end of the Muslim fasting month of Ramadan and beyond.
dhgate