Al Khalij Commercial Bank will fund the Al Rayyan Road project in Doha, after the $274m contract has been awarded to a joint venture between Six Construct Qatar and Boom Construction Company.
The funding is expected to help the contractors with bonding and funding requirement for the project.
Al Rayyan Road construction project includes the construction and development of Al Rayyan Road (Project 7) stretching from west of the New Rayyan roundabout to east of the BaniHajer roundabout.
The contact also involves the renovation of associated side roads and service roads along the stretch.
It is a part of an overall infrastructural improvement plan to connect south of Doha with the north, and east Doha with the west.
The Al Rayyan Road project has been awarded by the Qatar based Public Works Authority (Ashghal) under the Expressway and Local Areas Programmes.
Al Khaliji Group CEO Fahad Al Khalifa said: “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”
“We will continue to broaden our future projects, focusing on infrastructure financing leading up to the 2022 World Cup and the 2030 National Vision.”