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
china wholesale market

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: March 31, 2015
INTERNATIONAL. Washington is moving away from the strategy it has followed since the early 2000s - of being the prime military force in regional conflicts - and is shifting the primary burden of fighting to regional powers while playing a secondary role.
date:Posted: March 30, 2015
SAUDI ARABIA. Jamil Ghanawi, Head of JLL Saudi Arabia highlights the proposal aiming to help ease the current shortage of affordable homes and spur economic growth.
date:Posted: March 30, 2015
UAE. Boston Consulting Group study shows positive market development raising levels for all; Middle East banking revenues reach double-digit rates in 2014 with a 10% increase, while profits rose by 14.7%.
INTERNATIONAL. Washington is moving away from the strategy it has followed since the early 2000s - of being the prime military force in regional conflicts - and is shifting the primary burden of fighting to regional powers while playing a secondary role.
dhgate