Published On:November 5 2014
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Qatar's Al Khaliji extends financing to Al Rayyan Road project.
Al Khaliji Commercial Bank (Al Khaliji) has extended financing facilities for a contract awarded to a joint venture between Boom Construction Company and Six Construct Qatar. The financing will help meet the bonding and funding requirements of the Al Rayyan Road project.
The total value of the contract exceeds USD 274.6 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.
'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 Mr. Fahad Al Khalifa, al khaliji Group Chief Executive Officer.