Dubai aims USD2.5bn loan to enlarge metro for expo

22 Sep 2016

(MENAFN) Dubai is aiming USD2.5bn in loans in order to finance a 15-kilometer extension of its above-ground metro line to the World Expo site.

Moreover, funding is predicted to be offered by global banks, while the ECA-backed facility has a maturity of 18 years, while the commercial loans has 10-year tenor.

Dubai Road & Transport Authority awarded USD2.9bn in June metro-rail deal to a consortium including France”s Alstom, Spain”s Acciona and Turkey”s Gulermak Agir Sanayi Ve Taahhut.

The country predicts to double the number of visitors to the emirate to 20mn by the time of the global trade and tourism event, which may spend USD8bn of infrastructure projects.

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