Dubai secures $4.2b for airports
DUBAI The Dubai government said yesterday it had secured US$3 billion (S$4.2 billion) in long-term financing for the expansion of its airports.
The expansion is one of three multi-billion dollar infrastructure projects the emirate is planning to fund through debt, together with the building of its World Expo 2020 exhibition site and an extension of its metro system.
The funding will be used for the expansion and development of Dubai International Airport and Al Maktoum International Airport, it said.
This signifies the first stage of a larger funding plan, which will transform Al Maktoum International into Dubai's primary airport, serving up to 146 million passengers by 2025.