DOHA: Al Khalij Commercial Bank QSC has extended financing facilities for a contract awarded to a joint venture between Boom Construction Company and Six Construct Qatar Ltd WLL.
The total value of the contract exceeds QR1bn 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.
Al Khaliji’s financing facilities will help meet the bonding and funding requirement for this project.
The project is one of the recently awarded projects by the Public Works Authority (Ashghal) under the expressway programme and the roads and infrastructure projects in local areas programme (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 Chief Executive Officer. “We will continue to broaden our future projects focusing on infrastructure financing leading up to the 2022 World Cup and the 2030 National Vision”, he added.
Al Khaliji has long been involved in supporting projects that would help develop the infrastructure of the country. The Peninsula
