Dubai’s Road and Transport Authority (RTA) is seeking USD 2 billion for the financing of 15 km metro line extension to the World Expo site, ArabianBusiness reports.
The RTA is in talks with banks and contractors to extend the line from the Nakheel Harbour and Tower Metro station to the Expo 2020 site located in the south of Dubai. Funding will probably include bank loans and export credit.
Dubai is shifting away from funding infrastructure projects entirely from direct government budgets and looking into tapping more private financing. In November last year, the emirate put into effect a new public-private partnership law, signaling more interest in attracting private investment to develop projects and ease the burden on government budgets.
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