Posted on November 02, 2011

With the winner of the FIFA 2022 World Cup management contract expected to be announced this month, Al Khalij Commercial Bank (al khaliji) QSC is poised to become the bank of choice for contractors and subcontractors with the launch of the al khaliji’s specialized contracting finance division to support infrastructure projects.

“Qatar is expected to spend a staggering $150bn on hosting FIFA world cup 2022. The major projects include development of Metro Rail, state of art stadiums, hotels as well as other infrastructure projects. Major contractors and sub contractors involved in these projects will need to resort to bank finance. al khaliji has introduced a Specialized Contracting Finance Division  to cater the requirements seamlessly and efficiently for Contractors and subcontractors awarded with subject projects” said Robin McCall, Group Chief Executive Officer, al khaliji.

“The specialized contracting finance division will support financing needs of contractors in all sectors including Engineering, Procurement and Construction(EPC) contracts, Civil Works and Mechanical, Electrical and Plumbing (MEP) contracts. The set up of a specialized division will provide contractors with swift approvals through focused relationship managers with industry expertise and market updates. This cohesive internal model is very much in-line with our corporate strategy. al khaliji has been supporting many local, regional and international contractors for various strategic projects in Qatar such as Ras Girtas Power Plant and Water Desalination, Ras Laffan Port Expansion, Doha Convention Center, F Ring Road Project and the Qatar National Museum Project amongst other strategic projects.” Further explained Robin McCall, Group Chief Executive Officer, al khaliji.

With total assets of QR 23.85 billion, and a totally equity of QR 5.4 billion with an adequacy ratio of 24.2% as of 30 September 2011, al khaliji is financially capable of supporting the large-scale projects that are expected to be implemented building up to FIFA 2022.

For more information about al khaliji’s Project Finance call 44940792 974+  and for more information about the Bank, please visit www.alkhaliji.com.

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