RTA to seek private funds on 30% of projects

Dubai Road and Transport Authority - RTA
This is another indication that Dubai economy is not as strong as officially projected and government has now stuck in the lavish projects started during the boom time.

As reported in Arabian Business, Dubai’s Road and Transport Authority will seek private funding for almost a third of its infrastructure projects over the next five years.

Some 30 percent of deals will be offered as public-private partnerships (PPP in a bid to spread the risk and cost of large projects, said CEO for strategy and corporate governance, Abdul Younes.

Projects in the pipeline that will be offered out for private sector involvement include a number of marine stations and multi-storey car parks planned for the emirate.

The RTA is also mulling the privatisation of its water taxi services.

In August, technical services firm Aecom said it was owed a “not insignificant amount” of money from the RTA on completed projects.

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