Expected support through repayment of bank cash dues, including lending to the group and considering increasing the government’s share in it
The Ministry of Finance announced its intention to take a number of measures to support Bin Laden Group With the aim of stabilizing its financial structure through a set of arrangements to pay the banks’ cash dues, including lending to the group and considering increasing the government’s share in it, according to the news agency.
Saudi Arabia This support will enhance the group’s ability, as one of the largest companies in the sector in the region, to complete its existing projects, most notably the projects of the Two Holy Mosques. It will also contribute to strengthening its financial position and enabling it to obtain the necessary financing to implement the various projects it contracts for.
The ministry confirmed that this comes as a continuation of the government support that the construction sector has received during the past period, which enhances the completion of vital projects and creates attractive investment opportunities in the sector in order to achieve the Kingdom’s Vision 2030.
It is noteworthy that the Saudi Bin Laden Group has sought assistance from…2020 at Houlihan LokeyAs an adviser to help the kingdom’s largest construction company restructure an estimated $15 billion in debt. The investment bank will assist in a “comprehensive review and financial restructuring of the capital structure of Saudi Binladin Group,” according to a statement at the time from Binladin Holding Group International.
