RTA to spend more than US $5 billion in four years
The transport authority reveals future project plans
Dubai’s Road and Transport Authority (RTA) is looking to spend US $5.4 billion on projects over the next four years, according to authority executives.
RTA‘s Chief Executive Officer for strategic and corporate governance, Abdul Mohsin Ibrahimi Younes, has confirmed the expenditure in the coming four to five years, adding RTA may also issue bonds in the future.
Of the projects currently underway, Younes said the RTA expects its new tram Dubai system, worth Dh3.2 billion, to be completed by 2014.
RTA which has already spent more than double the projected figure on projects over the past five years, confirmed that higher charges for its Salik electronic toll collection system and the creation of new toll gates, would not be an option to raise money for future developments.
RTA, which also operates the first metro system in the Arab world, received Dh800 million in Salik revenues.
The authority’s revenues from Salik tolls are rising year-on-year as it earned Dh778 million in 2009 and Dh669 million in 2008 and is also planning to increase Salik toll gates in the emirate, which are four at the moment.
In February, the RTA revealed it would seek private funding for almost a third of its infrastructure projects over the next five years, in a bid to spread the cost and risk of large projects.
