RATP Group subsidiary RATP Dev has signed an agreement with UAE-based Zain capital, part of the Lakhraim Business Group, to establish a joint venture targeting some of the region’s largest transport and urban planning projects.
The new joint venture will begin with a bid to operate bus networks in Abu Dhabi and Al Ain, followed by a bid for Abu Dhabi’s upcoming multi-line metro and LRT scheme – one of the largest construction projects in the emirate. In addition, RATP Dev said it is already in discussions with the Roads and Transport Authority (RTA) to enhance Dubai’s bus network.
RATP Dev CEO François-Xavier Perin said: “We are pleased to enter into a strategic partnership with Zain Capital and the Lakhraim Business Group. Its deep knowledge of the local market and excellent credentials will ensure we strengthen our presence in the region and provide world-class services to the residents of the UAE.”
With operations across four continents, in 2015 RATP Dev is expected to generate revenues of around EUR900m.