RTA in Dubai to spend $5.45 billion

|

RTA in Dubai to spend $5.45 billionThe RTA in Dubai have confirmed that they will spend approximately 20 billion dirhams ($5.45 billion) over the coming 4 years to fund exisiting projects but announced that they will not be considering an increase in toll charges using their electronic toll collection system or creating new toll gates to raise money for any future developments.

The Roads & Transport Authority has spent more than 55 billion dirhams in the past 5 years and are looking to create public-private partnerships to fund projects.

In April, the Dubai government announced that 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.

Dubai’s RTA expected its new tram system for Dubai to be completed by 2014. The tram system, valued at 3.2 billion dirhams, is just currently 30% completed.

The RTA also expected the Dubai Metro green line to be completed by September. The 23 km line was originally planned to open in April 2010.

Category: Dubai, Dubai Airport Metro, Dubai City, Dubai Metro, Dubai Metro - Green Line, Dubai News, RTA

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Comments are closed.