UAE to spend $4.4bn on infrastructure
The President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, has allocated $4.4 billion (Dh16.15 billion) for infrastructure projects in parts of the oil-rich seven-emirate federation, the official Wam news agency said on Saturday.
The funds will go towards setting up new towns and inter-city highways as well as stormwater and sewage systems in the northern emirates, Wam said without identifying which emirates will benefit from the projects.
The UAE comprises the wealthy emirate of Abu Dhabi, the country's capital, as well as the booming state of Dubai – both of which are spending billions of dollars on their infrastructure.
Northern emirates, where the economy is growing at a steady pace, include Ajman, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain.
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