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Sat 23 Jan 2010 02:54 PM

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Dubai sets $2bn for 2010 transport projects

Spending to aid some 120 projects; 13 are new, others under completion - RTA.

Dubai's transport department will spend up to AED7.5bn ($2.04bn) in 2010 on projects although it expects less than half this amount in revenues for the year, it said on Saturday.

The department expects revenues in 2010 to reach AED3.3bn, Mattar Al Tayer, chairman of Dubai's Roads and Transport Authority said in a statement. It did not give a comparative figure for revenues in 2009.

The spending will benefit some 120 projects, 13 of which are new and the remainder under completion, Tayer said.

On Wednesday, Tayer said the budget for 2010 was AED10.7bn.

Of the 10.7 bilion dirham total budget, 2.8 billion dirhams is operational budget and 7.9 billion dirhams is capital and project budget, according to Saturday's statement said.

Tayer said 46 percent of the budget will be allocated to the Rail Agency, 29 percent to the Traffic & Roads Agency, 13 percent to Public Transport Agency and the remaining 12 percent to licensing, marine agencies and corporate support services.

The government has positioned infrastructure development as central to strengthen its position as the Middle East's commercial and tourism hub and continued to invest in it even as the economic crisis battered Dubai's real estate market and sent tens of thousands of workers home.

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Jack 10 years ago

When NEW infrastructure projects are announced, they always have a positive impact on the local economy, both in fiscal terms, as well as morale. Issuing one-line statements are like eating a half-baked cake. When the Gov of Dubai / RTA has the foresight, and has actually taken the initiative to launch 13 new projects, then at least they should provide a minimum description. If nothing, it will at least counter the propaganda floating in the international media. This is a typical example of someone’s halfhearted attempt on a press release!