Medco arranges contractor financing for New Doha Port

23 April 2012

More than $500m of contractor financing in place for port works

The local/Belgian Dredging International and Middle East Dredging Company (Medco) have arranged a $550m contractor financing facility to help fund construction work on the New Doha Port.

The funding is being provided entirely by the local Qatar Islamic Bank and will be split across several different facilities with a tenor of between three to four years.

Medco was awarded the contract in mid-March.

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