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UAE to spend 4.4 bln dlrs on infrastructure
ABU DHABI - The President of UAE, His Highness Shaikh Khalifa bin Zayed Al Nahyan has allocated 4.4 billion dollars for infrastructure projects in parts of the oil-rich seven-emirate federation, the official WAM news agency said on Saturday.
The funds will go towards setting up new towns and intercity highways as well as stormwater and sewage systems in the northern emirates, WAM said without identifying which emirates will benefit from the projects.
The United Arab Emirates comprise the wealthy emirate of Abu Dhabi, the country’s capital, as well as the booming state of Dubai-both of which are spending billions of dollars on their infrastructure.
Northern emirates, where the economy is growing at a much slower pace, include Ajman, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Qaiwain.
Shaikh Khalifa is the ruler of Abu Dhabi.
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