Banks expect huge contractor financing deal for SR20bn security compounds
Banks in Saudi Arabia are beginning to line up to provide contractor financing for SR20bn ($5.48bn) of contracts for security compounds being tendered by the Interior Ministry.
Bids from interested contractors are due in mid-July and banks say they are beginning to position themselves to provide financing to a winning contractor.
“There is a big opportunity for contractor financing to be put in place on this and a lot of banks have already been having conversations with bidders to ensure they are in place once a contract is awarded,” says one banker in Saudi Arabia.
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