A joint venture of Six Construct Qatar has secured funding from leading lender Al Khalij Commercial Bank (al khaliji) for its Al Wakrah Stadium, precinct main works and masterplan project.

The other joint venture partners include Midmac Contracting and Porr Qatar Construction.

In addition to the funding, al khaliji will also play the role of ‘Project Account Bank’ for the transaction.

“Our financing of a project of such national importance - a project that will essentially place Qatar at the global heart of sport - is testament to our commitment and support to major plans that aim to bring the economic and social development of Qatar to a next level,” remarked Fahad Al Khalifa, the group CEO.

“Whether it is large-scale projects that impact the nation as a whole, or smaller developments that move the country towards a knowledge-based economy, al khaliji is willing and has the capacity to provide the necessary financial support," stated Al Khalifa.

"We will continue to broaden our future projects focusing on infrastructure and logistic financing leading up to the 2022 World Cup," he said.

The choice of al khaliji was a result of the close relationship with all the three JV partners and their past experience based on exceptional service provided to them on projects financed by the bank in the past - including the ongoing Lusail CP4 for Midmac - and the well-structured facility package that meets the clients’ requirements, in a record turnaround time, he added.-TradeArabia News Service