Dubai Metro Is On Its Way To A Huge Expansion Which Could Cost Up To An Astonishing AED 10 BILLION
It's just getting a lot longer!
Dubai Metro has secured the first step in financing a new project which will extend the metro service line to the World Expo 2020 site.
A loan worth AED 4.04 billion has been secured, while the total cost of the project is expected to cost in the region of AED 10 billion, according to Gulf News.
The government applied for a loan with a ten year tenor to banks including First Abu Dhabi Bank, HSBC, Intesa Sanpaolo, Santander and Standard Chartered, according to sources. Export agencies will provide the remainder of the amount.
The new rail service will cover a distance of 15km.
The expansion is part of a wider plan for traffic control for city wide events and occasions
Plans are currently being actioned to control traffic congestion for large scale events.
This past Eid saw more than 5 MILLION people use the various public transport systems, but thanks to scheduled systems in place by the RTA, a steady flow of traffic was achieved where possible.