Dubai's transport authority has approved a budget of just over AED7bn ($1.9bn) for this year, with more than half put aside for new projects.
Mattar Al Tayer, chairman and executive director of the Roads and Transport Authority (RTA) said on Saturday that the operating budget would amount to AED3.156bn and the capital and projects budget would total AED3.88bn.
He added in a statement that revenues for 2014 are estimated at AED5bn, up 17 percent on last year.
"The approved projects budget is estimated as AED3.62bn which will be allocated for constructing around 99 projects; comprising 50 new projects to be undertaken in roads, marine transport and public transport sector, and 49 projects currently underway," said Al Tayer.
He said 36 percent of the budget will be allocated to the Traffic and Roads Agency, 33 percent will go to the Rail Agency, 13 percent to the Public Transport Agency, 17 percent to be shared between the Licensing Agency, Administrative Support Services Sector, and Technical Support Services Sector, and one percent to other agencies.
In 2014 the RTA will complete the construction of several projects currently underway, and undertake a host of new projects, he said.
Among the projects to be completed will be the Dubai Tram, which is expected to be opened in November this year.
By the end of this year, the RTA said it will also award a contract for constructing Etihad Bridge, which will replace the existing Floating Bridge, and will comprise 12 lanes.For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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