Dubai Metro cost expected to go up by 75 percent
Dubai: The cost of building Dubai's metro rail network is expected to increase by 75 percent above original estimates by the time it opens next summer, the city's leading transport official has said.
According to estimates, the cost of Dubai Metro will increase from USD 4.4 billion to about USD 7.2 billion by June 2010, while the first phase of the Metro will be operational from September 9 this year.
Mattar al Tayer, the chairman of the board and executive director of the Roads and Transport Authority (RTA), said that the completion date will be pushed back by three months and only 10 of the 29 stations will open next week.
The 75 percent increase in the estimated cost comes from changes to the original plan, including extra stations, depots and track extensions, Al Tayer said adding that the RTA was not waiting for extra finance to finish the project.
"The finance of the Metro is guaranteed by the Dubai Government and until now we have been paying on time. I can assure you we pay on time," he said.