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1/22/24, 2:11 PM Dubai's Salik could generate $33mln from the new toll gates

Salik gate ahead: Highway traffic on Sheikh Zayed Road, Dubai, United Arab Emirates. Getty Images
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Dubai's Salik could generate $33mln from the new

toll gates

Salik stock jumps 5% on DFM on news of additional revenue

Brinda Darasha, ZAWYA

January 19, 2024

Dubai Salik's plans to open two additional toll gates in the city is 'a game changer' for the company,
investment and brokerage company, Al Ramz Capital, said in a note on Friday. The analysts said Salik
could generate an additional 120 million dirhams ($33 million) from the two gates.

Meanwhile, shares of Salik jumped 5% to a high of AED3.7 on Dubai Financial Market on the news of the

additional toll gates.

" Additional gates and tariff hikes are game changers for Salik, as we have emphasized since the IPO,
as each of these events would potentially structurally enhance the company’s cash flow," said Al Ramz
Capital.

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