Dubai's Roads and Transport Authority (RTA) has awarded a Dh10.6 billion ($2.9 billion) contract to a consortium led by France's Alstom to expand the city's metro system, the RTA said on its Twitter account on Wednesday.
The contract is aimed at extending the metro so that it reaches the Expo 2020 site, Al Arabiya television channel reported.
Spanish builder Acciona is also part of the consortium, its Chairman and CEO Jose Manuel Entrecanales said in a tweet on Tuesday.
Alstom would have one half of the contract, while an Acciona-led group - with the Spanish company holding 60 per cent and Turkey's Gulermak 40 per cent - would take the other half, a source with direct knowledge of the deal said.
Expo 2020 is a trade exhibition that Dubai hopes will bolster visitor numbers to the emirate.
Alstom shares traded 5 per cent higher at 1011 GMT, their biggest rise in almost four months. – Reuters
Alstom team wins $2.9bn deal to expand Dubai Metro
The contract is aimed at extending the metro<br>so that it reaches the Expo 2020 site.
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