24.06.2015, 10:43
Al Khaliji Commercial Bank extends financing to Al Thumama Mega Reservoir Project
OREANDA-NEWS. Al Khalij Commercial Bank (al khaliji) Q.S.C has extended
financing to
a Joint Venture of
Consolidated Contract
ors Group SAL (Offshore)(CCC) and
Teyseer Contracting
Company WLL
for the construction of
the
Mega Reservoir PRPS 5
-
Al
Thumama (Package C)” project.
The Water Security Mega Reservoir Project involves the constructio n of five huge potable water mega reservoirs sites and interconnecting network of large diameter water pipelines. Each reservoir site will ultimately comprise up to five reservoirs, which will be the largest of their kind in the world. The aim of the Water Security Mega Reservoirs Project is to provide seven days of potable water storage in the new mega reservoirs as well as existing and future secondary reservoirs that preserv e the water quality, as per Kahramaa and World Health Organization (WHO) standards.
“ l khaliji’s financing of such imperative development comes as part of the bank’s strategy to support the rollout of major infrastructure projects in the State of Qatar and to accommodate the growth requirements of our valuable clients. In line with the 2030 National Vision, we will continue to take part in the country’s growth alongside renowned international and local companies ” said Fahad Al Khalifa, al khaliji Group Chief Executive Officer.
al khaliji has long been involved in supporting projects that help develop Qatar ’s infrastructure. Recently, the bank facilitated financing for a 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. Similarly, al khaliji extended contract financing facilities to a joint venture between Boom Construction Company and C.A.T. International Qatar WLL. for their awarded Transmission Pipelines for Mega Reservoirs Project around Doha.
Consolidated Contractors Group SAL (Offshore) (CCC) is considered one of the largest engineering and construction company in the Middle East. In Qatar, it takes on numerous huge projects through unincorporated JV with Teyseer Contracting Company, one of the leading contracting firms in the State of Qatar.
al khaliji, continues to focus its growth and activities in Qatar, its domestic market. Due to the Bank’s strength in lending, strong capitalization and the long track record of solid performance. Fitch awarded al khaliji a Long Term Issuer Default Rating of ‘A+’. Moody’s Investor Services has also recently assigned credit rating of A3 to al khaliji with Stable outlook.
The Water Security Mega Reservoir Project involves the constructio n of five huge potable water mega reservoirs sites and interconnecting network of large diameter water pipelines. Each reservoir site will ultimately comprise up to five reservoirs, which will be the largest of their kind in the world. The aim of the Water Security Mega Reservoirs Project is to provide seven days of potable water storage in the new mega reservoirs as well as existing and future secondary reservoirs that preserv e the water quality, as per Kahramaa and World Health Organization (WHO) standards.
“ l khaliji’s financing of such imperative development comes as part of the bank’s strategy to support the rollout of major infrastructure projects in the State of Qatar and to accommodate the growth requirements of our valuable clients. In line with the 2030 National Vision, we will continue to take part in the country’s growth alongside renowned international and local companies ” said Fahad Al Khalifa, al khaliji Group Chief Executive Officer.
al khaliji has long been involved in supporting projects that help develop Qatar ’s infrastructure. Recently, the bank facilitated financing for a 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. Similarly, al khaliji extended contract financing facilities to a joint venture between Boom Construction Company and C.A.T. International Qatar WLL. for their awarded Transmission Pipelines for Mega Reservoirs Project around Doha.
Consolidated Contractors Group SAL (Offshore) (CCC) is considered one of the largest engineering and construction company in the Middle East. In Qatar, it takes on numerous huge projects through unincorporated JV with Teyseer Contracting Company, one of the leading contracting firms in the State of Qatar.
al khaliji, continues to focus its growth and activities in Qatar, its domestic market. Due to the Bank’s strength in lending, strong capitalization and the long track record of solid performance. Fitch awarded al khaliji a Long Term Issuer Default Rating of ‘A+’. Moody’s Investor Services has also recently assigned credit rating of A3 to al khaliji with Stable outlook.
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