Dubai Salik to set up two new toll gates to ease traffic flow, raise revenue

Dubai Salik to set up two new toll gates to ease traffic flow, raise revenue

Dubai's Roads and Transport Authority, known as RTA, has instructed toll operator Salik Company PJSC to install two new gates on key routes in the emirate to optimise traffic flow and reduce congestion. With the launch of the new toll gates, Salik will see a jump in revenues, the toll operator said in a statement on Dubai Financial Market on Friday. It did not reveal where the new gates would be installed. Details regarding the required upfront valuation and the funding mix for the installation of the new gates as well as the guidance on the expected revenue, EBITDA and balance sheet impact will be disclosed after completion of detailed traffic studies, Salik said. Salik listed on the exchange in 2022 following an IPO in which the government sold a 20% stake raising 3.7 billion dirhams ($1 billion) and a market capitalization of $4.1 billion. In its financial results for nine-month 2023, Salik posted nearly 23% year-on-year drop in net profit to AED 803 million. For Q3, however, it made a net profit of AED 242 million, up 5% on year. (Reporting by Brinda Darasha; editing by Seban Scaria) [email protected] Dubai Salik to set up two new toll gates to