Al Tayer Reviews Investment Prospects in RTA Projects

HE Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads and Transport Authority (RTA) has recently met with Thomas Nides, US Deputy Secretary of State for Management and Resources Agenda, and the accompanying delegation. During the meeting, the two parties reviewed the prospects of cooperation and exchange of expertise between the RTA and American firms operating in rail, transport and road sectors, as well as road '&' mass transit projects that the RTA intends to undertake in the near future.

At the start of the meeting, which was held at the Jumeirah Beach Hotel, Al Tayer welcomed the American delegation, and praised the historical relations between the United Arab Emirates and the United States of America, which are manifested in growing trade exchange between the two countries, running joint ventures in various fields, and surging number of tourists shuttling between the two friendly countries. Al Tayer added that he would be looking forward to see more American firms doing business over here, particularly in the field of Roads and Transport sector.

Al Tayer also touched on the investment opportunities offered to the private sector in road projects and transport systems; which the RTA would undertake up to 2020. "The plan has taken into consideration the projected population during the coming years, and the requirements of Dubai's bid to host World Expo 2020. The plan also entails the construction of key roads extending hundreds of kilometers and crossings on Dubai Creek, in addition to ring roads around the existing and planned development '&' activity centers. One of the most important projects to be rolled out in 2013 is the Business Bay Canal Extension Project at an estimated cost of AED1.5 billion.

Over the forthcoming years the RTA will also undertake the construction and operation of tram and metro projects costing billions of dirhams, offering new opportunity for businesses to bid for RTA tenders. The RTA is currently mulling the introduction of Public-Private Partnership (PPP) model in project construction with a view to providing attractive business prospects in a number of projects to induce the private sector to take the initiative in undertaking as well as funding such projects against benefiting from the returns over a contracted period of time," explained Al Tayer.

Winding up the meeting, Thomas Nides, Deputy US Secretary of State for Management and Resources Agenda, expressed admiration of projects undertaken by the RTA, particularly in public transit field such as the Dubai Metro, Al Sufouh Tram and public transport means. He also hailed the quick action taken by the RTA enabling the construction of such mammoth projects in a record time.

"The United States is seeking to strengthen ties with the United Arab Emirates and push up trade volumes to higher levels," he added. "The meeting offered a great opportunity to share experiences between American companies and the RTA in constructing and managing the infrastructure of road and mass transit systems," said the American diplomat in a final remark.