Mashreq to lead finance consortium for Doha Metro

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By CV Staff http://www.constructionweekonline.com

Mashreq is to be the leading bank of a consortium that is providing finance for the joint venture which was awarded the Red Line North of the Doha Metro.

The Peninsula reports that the announcement was made at a signing ceremony at Oryx Rotana Hotel, with the consortium – which also includes including Barwa Bank, Qatar Islamic Bank and Union National Bank – to provide $580m of financing.

The value of the contract awarded by Qatar Railways Company for the Red Line is $2.32bn.

The joint venture which was awarded the contract consists of Impreglio, S K Engineering and Construction and Galfar Al Misnad Engineering and Contracting. More info