AED 1.8 bn for Ajman infrastructure, DTC becomes top taxi, Adnoc deepens energy ties with South Korea

AED 1.8 bn to fast-track 30 municipal projects in Ajman

Ajman is putting AED 1.8 bn behind a five-year push to remake its roads, parks, and public spaces, with the emirate’s Crown Prince Sheikh Ammar bin Humaid Al Nuaimi launching AM30x30 — a 30-project municipal agenda running through 2030, according to a statement.

The program includes five packages covering transport infrastructure, roads, parks, cycling tracks, and community facilities. The strategy targets a 43% increase in new road construction between 2026 and 2030 compared with the last five years and a 33% expansion in cycling infrastructure by 2030.

Adnoc deepens South Korea energy partnership

Adnoc is reinforcing its role in South Korea’s energy security by expanding its long-term partnership with Seoul, which will strengthen cooperation on crude supply and strategic oil storage, according to Reuters. The two will focus on alternative export routes to move security emergency supplies during critical situations, as well as stockpiling barrels, with Adnoc’s access to refining facilities in South Korea also on the table.

ICYMI- The development builds on an agreement from March to allow Adnoc to store crude in Korean strategic reserves, giving the state oil giant storage access in Northeast Asia and giving South Korea priority access to the barrels during emergencies. Adnoc had agreed to supply up to 24 mn barrels to South Korea.

DTC becomes the top taxi player in the UAE

Dubai Taxi Company (DTC) is now the UAE’s largest taxi operator after completing its AED 1.5 bn takeover of National Taxi, it said in a press release. DTC’s combined fleet now stands at above 9.5k, after taking on National Taxi’s fleet of upwards of 2.7k vehicles. In Dubai, it’ll hold a 59% market share, and its expansion will position it to hold 12% of the market in Abu Dhabi.

ICYMI- Back in May, DTC announced the debt-funded transaction, saying that it would give it a foothold in the capital for the first time.