Image

A Salik toll gate in Dubai.

PHOTO BY ARCHIVE


New Dubai law makes Salik public company with power to add new toll gates

A new Dubai law was issued on Wednesday (June 15) making Salik a public joint stock company that can remove or modify existing toll gates in Dubai as well as add new toll gates.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, issued the law.

As a company, Salik will have legal, financial and administrative autonomy. Salik Company PJSC is exclusively authorised to operate, manage and develop the traffic toll system in Dubai. It will also provie advisory services on traffic regulations and the toll gate system and will work with Roads and Transport Authority (RTA) in Dubai to conduct studies for planning and identifying new toll gate locations.

The company is responsible for implementing legislation related to toll gates and the development, operation, and management of traffic systems, as per contracts signed with competent authorities both in Dubai and outside the emirate.

The company will have a term of 99 years, starting from the date of its registration in the Trade Register. The term renews automatically.

The company, which has its headquarters in Dubai, can open branches and offices in Dubai and outside the emirate. All shares will be owned by the Dubai Government.

In case the company’s shares are offered for subscription in a public offering, the Executive Council of Dubai will determine the percentage of shares that can be offered, with the Dubai Government owning shares worth a minimum of 60 percent of the company’s capital.

Under the law, the RTA may outsource the operation and management of Salik toll gates. Proceeds from toll gates, including fees and fines, will be transferred to the company, as per the concession contract signed between RTA and Salik. ICA/Expat Media


For all the latest news from the UAE and the world, follow us on Facebook, Twitter and Instagram and subscribe to our YouTube page

Share


ADVERTISE HERE Find or post new jobs, motor ads and classifieds

Explore Expat Media