Dubai to monetize Salik at USD800m

08 Apr 2011

(MENAFN) Dubai’s Department of Finance stated that it would launch a new financing program based on USD800 million worth of dual currency for the purpose of monetization of receipts from the Salik road toll system, reported WAM.

The department stated that the money would be used to finance infrastructure projects.

The department added that it had appointed so far three commercial banks in the country to lead the process.

It is worth noting that in Dubai, which has billions of dollars of accumulating debt, fees and taxes account for 77 percent of the budgets revenue. Salik is among projects that generate such income.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more