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Al Khaliji extends financing to road project

DOHA, November 4, 2014

Al Khalij Commercial Bank has extended financing facilities for a contract awarded to a joint venture between Boom Construction Company and Six Construct Qatar to help meet the bonding and funding requirement for the project.

The total value of the contract exceeds QR1 billion ($271 million) and covers the construction and development of Al Rayyan Road (Project 7) stretching from West of New Rayyan roundabout to East of Bani Hajer roundabout, together with the construction and upgrade of associated side roads and service roads.

The project is one of the recently awarded projects  by Public Works Authority ‘Ashghal’ under the Expressway Program and the Roads & infrastructure projects in local areas Program (LRDP). It is a significant infrastructure plan being carried out in Doha that will connect the south of the capital of Qatar with the north, and the east with the west.

"We are proud of our contribution to Qatar's infrastructure development. Being involved in this key project, enhancing the country’s future transportation landscape with the collaboration of well-known local and international contractors, comes as part of Al Khaliji's innovative mid-term strategy," said Fahad Al Khalifa, Al Khaliji Group CEO. – TradeArabia News Service




Tags: Al Khaliji |

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