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Abu Dhabi sovereign wealth fund ADQ has taken over the management, operation and development of the emirate’s road toll system DARB, as well as its parking system Mawaqif.
The toll and parking systems will remain under the regulatory supervision of the emirate’s transport services department Abu Dhabi Mobility.
DARB and Mawaqif will leverage from ADQ’s transport and logistics portfolio to support the evolution of a smart, safe and sustainable transport network in Abu Dhabi.
Operations will not be affected by the transition to ADQ, the media office said.
Toll system DARB launched in 2021 and operates eight gates across Abu Dhabi.
Its Dubai equivalent, Salik, listed on Dubai Financial Market in 2022.
ADQ’s transport and logistics portfolio includes Etihad Airways, Etihad Rail and Abu Dhabi Airports.
The sovereign wealth fund aims to develop cluster ecosystems and support the growth of portfolio companies by harnessing their strengths and creating long-term value, the media office added.
(Writing by Imogen Lillywhite; editing by Seban Scaria)
