RATP Group, the French state-owned public transport operator, has signed an agreement to set up a joint venture targeting some of the largest transport and urban planning projects in the UAE.
Through its international subsidiary RATP Dev, the world’s fifth largest urban transport operator said it has signed a partnership with Zain Capital, part of the Lakhraim Business Group.
RATP Group, which runs the Paris metro, tram and bus system, said in a statement that it is “well positioned to provide the UAE with new transport systems”.
The partnership will begin with a bid to the Abu Dhabi Department of Transport (DOT) to operate the bus networks of Abu Dhabi and Al Ain, as well as gearing up to submit a bid for the upcoming multi-billion dirham metro and light railway/tramline project, which will be one of the largest construction enterprises in the emirate.
In addition, RATP Dev said it is already in discussions with the Roads and Transport Authority (RTA) to enhance the bus systems in Dubai.
François-Xavier Perin, CEO of RATP Dev, said: “We are pleased to enter into a strategic partnership with Zain Capital and the Lakhraim Business Group. Its deep knowledge of the local market and excellent credentials will ensure we strengthen our presence in the region and provide world-class services to the residents of the UAE.”
Ali Hamad Lakhraim Alzaabi, chairman of Lakhraim Business Group, added: “We are delighted to have this opportunity to work with one of the largest public transport providers in the world. The transport sector in the UAE has witnessed major growth and development over the last few years and through this partnership, we aim to make our contribution in the sector by combining our considerable expertise and resources. This is the first step in a long-standing and successful relationship.”
RATP Dev now operates in 14 countries on four continents and in 2015, RATP Dev is expected to generate revenue of about $1 billion.
Follow us on
