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Qatar Islamic closes $250m Ras Laffan financing

Doha, September 14, 2008

Qatar Islamic Bank said on Sunday it had closed this month a $250 million Islamic financing arrangement for part of Qatar's Ras Laffan power and water project.

The project, which is expected to cost over $3 billion and be completed by 2011, aims to enhance power production to help meet the country's growing demand, it said in a statement on the Qatar bourse website.

The project will generate around 2,730 mega watts of electricity, covering around 30 per cent of the country's needs. - Reuters  




Tags: Ras Laffan | Qatar Islamic |

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