Transport authority chief also says RTA revenues forecast to rise 11% next year
Dubai's transport authority on Wednesday said it would spend more than AED6.2bn ($1.68bn) in 2013 while revenues are forecast to total just over AED4bn.
Mattar Al Tayer, chairman and executive director of the Roads and Transport Authority (RTA) said its spending next year would comprise an operational budget of AED3.022bn and a capital and projects budget of AED3.22bn.
He added that total revenues expected next year amounted to AED4.079bn, an 11 percent increase compared with 2012.
Al Tayer said the projects budget will allocate cash for about 45 new development schemes spanning roads, marine transport, public transport and operational buildings.
It would also fund the completion of another 55 projects currently underway in Dubai, he added.
Of the total budget, 37 percent has been allocated to the Rail Agency, 34 percent to Traffic and Roads Agency, 15 percent to the Public Transport Agency, and the remaining 14 percent to the Licensing Agency.
Al Tayer said: "The Dubai Government is continuing with the development of the infrastructure, including road and transport projects, as it recognises that investment in the infrastructure is the core driver of the economy of any city worldwide.
"In 2013, the RTA will complete the construction of several projects currently underway, and undertake a number of new projects. Among the key projects to be continued this year is the Safouh Tramway; which runs 14km along Safouh Road; where the initial phase of the project is slated for completion in November 2014."