Transportation technology solutions provider Ultra Fairwood will undertake a USD 1.6 billion rapid transport project at the UAE's Ajman city.
The cost of the project is USD 1,604 million of which USD 881 million is the capex value and USD 723 million will be the systems cost.
Fairwood Group Chairman and Managing Director Ranbir Saran Das said it will be the largest autonomous electric vehicle transport system in the world.
He also informed that vehicles for the project would be made in India, for which the government has already provided tax benefits and there will be no impact of the Goods and Services Tax (GST) that is to be unveiled from July 1.
The Ajman project in the United Arab Emirates (UAE) will be a city wide integrated elevated transportation system covering 120 kilometres.
Under PRT, a six-seater battery-operated driverless vehicle will run on an elevated guide way track, the company said. While, the GRT will have a 30-passenger capacity that will be integrated with the PRT system under this project.
Fairwood group is engaged in mobility, energy and urbanisation solutions. Ultra Fairwood, incorporated in Singapore, designs, builds and operates the Ultra PRT system.
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