Dubai may spend $3bn on transport projects
Dubai could spend about $3 billion (Dh11bn) on transport infrastructure projects in 2010 as it looks to boost the economy and has no issue paying its contractors, said the executive director of the Roads and Transport Authority (RTA).
The government has positioned its infrastructure development as central to its status as the Middle East's commercial and tourism hub and has continued to invest in the sector.
"Investing in infrastructure is the driving force for the economy," Mattar Al Tayer, Chairman of the Board and Executive Director of RTA, told a news conference yesterday.
"We have Dh10.5bn budget for this year and we will spend more in the future," he said, later adding that could rise to Dh10.7bn.
Costs on the Dubai Metro, which started operating in September last year, soared 80 per cent to Dh28bn, officials said in August.
When asked whether Dubai could meet obligations to contractors and consultants on the project, Al Tayer said, "there is no issue".
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