Posted on December 08, 2014

Al Khalij Commercial Bank (al khaliji) Q.S.C is extending financing to a joint venture between Boom Construction Company and C.A.T. International Qatar WLL. for the development of Transmission Pipelines for Mega Reservoirs Project around Doha. The total value of the project exceeded QAR 900 Million. The project was recently awarded by Qatar General Electricity & Water Corporation (Kahramaa) and is considered as one of the major and significant infrastructure ventures.

al khaliji’s financing comes in line with the bank’s strategy to support the roll out of major infrastructure projects and accommodating growth requirements of their preferred customers "We are proud of our continued contribution to the enhancement of Qatar's infrastructure. The financing of such projects, in collaboration with skilled local and international companies,is a key pillar of our bank’s mid-term strategy. We are keen to broaden our financing offerings and play an instrumental role in  our country’s progression" said Fahad Al Khalifa, al khaliji Group Chief Executive Officer.

al khaliji has long been involved in supporting projects that cater to the needs of infrastructure sector in the State. Recently, the bank has extended financing facilities for contract awarded to a joint venture between Boom Construction Company and Six Construct Qatar LTD WLL. The contract covered 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.

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Awarded an ‘A‘ credit rating by international rating firm Fitch in 2013, al khaliji has access to the international financial markets to provide long-term financing solutions to support large-scale Government infrastructure development projects. As a pioneering Qatari financial institution, al khaliji understands the requirements of its preferred clients and provides them with the financial assistance through a group of banking professionals who are able to support and serve their clients’ needs through their personalized service, partnership approach, swift approvals, and simple procedures.