(MENAFN) Commercial Bank has decided to fund an arrangement for USD274 million in comprehensive financing services to Joannou & Parakskevaides, for the award of the construction project of the West Corridor, Gulf Times reported.
The agreement was given to the joint project - Joannou & Parakskevaides (Overseas) (75%) and J&P Avax (25%), valued at USD458 million.
"Commercial Bank is proud to finance large-scale infrastructure projects in Qatar such as the West Expressway", Commercial Bank CEO Abdulla Saleh al-Raisi stated.
Major regional banks along with Commercial Bank led the deal for enabling finance in excess of USD274 million, the project includes a 10.5km long piece starting from west of the future Inner Orbital and extends to the west of the proposed Barwa City Access.
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