$1.06 billion! Emirates Bank and the Upper Car Consortium helped Dubai Metro Blue Line complete a hu

Emirates NBD, a leading banking group in the Middle East, North Africa and Turkey (MENAT) region, announced that it has provided a total of AED 3.9 billion to a consortium of MAPA, LIMAK and CRRC US$1.06 billion to support the design and construction of the Dubai Metro Blue Line.

Awarded to the consortium by the Dubai Road Transport Authority (RTA), the project has a total AED 20.5 billion (approximately US$5.58 billion) and is one of the core infrastructures of the Dubai Urban Master Plan 2040, which aims to build a world-class public transport and mobility network. Alleviate traffic congestion and promote connectivity across the city.

The Blue Line is about 30 kilometres long and has 14 stations and will connect to the existing Red Line, Green Line, as well as bus and taxi lines. The project is expected to be completed in September 2029 and will be able to serve approximately 350,000 passengers per day by 2040.

As an electrified rail project, the Dubai Metro 'Blue Line' project is in line with Emirates NBD's green finance strategy and is included in its 'Clean Transport' financing framework to support sustainable development projects.

Ahmed Al Qassim, Head of Wholesale Banking, Emirates NBD, said: "The Dubai Metro 'Blue Line' project is a landmark project that will provide efficient, convenient and reliable public mobility solutions for Dubai's continued growth to meet the needs of its growing population. The financing transaction further strengthens Emirates NBD's position as the bank of choice to support major urban construction projects. ”

Murathan Doruk Günal, Vice President and CEO of MAPA, said: "We are honored to be part of this foundational project that is part of the Dubai 2040 City Plan. The closing of the financing with Emirates NBD marks a key step for the project and demonstrates the trust of all parties in the consortium's ability to execute. MAPA will continue to contribute to this vision of sustainable urban development with engineering excellence. ”

Serdar Bacaksız, Member of the Board of Directors of Limak Group, also said: "The Dubai Metro Blue Line project demonstrates Dubai's forward-looking vision for future urban development. Limak is proud to be an important partner in this transformation and to participate in this green mobility pathway. This loan agreement provides us with a solid foundation to deliver on our vision of delivering a world-class mobility experience for Dubai's residents and visitors with our global experience and innovative solutions." ”

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