RTA to seek greater share of private investment in projects
The Dubai Roads & Transport Authority (RTA), the body responsible for the emirate’s entire transport network, is to seek private investment in 30% of projects.
The funding will mean many infrastructure developments planned for the next five years will now be tendered on a public-private partnership (PPP) basis, according to senior representatives from the authority.
The projects include a number of marine stations, up to 10 multi-storey car parks, to be tendered later this year and possible privatisation of the water-taxi services. “For the public sector, this means new funds are available to develop infrastructure and the private sector is usually more efficient in terms of management and maintaining assets. There is also more flexibility and room for innovation,” CEO for strategy and corporate governance Abdul Younes told local media.
The reports also state the Sheikh Rashid Bridge and Dubai Smile, designed to replace the existing floating bridge, will be tendered as PPP “after 2014”.