Doha, Qatar 16 June 2011:  Al Khalij Commercial Bank (al khaliji) QSC is proud to have played a role in the successful Ras Laffan C Project, Qatar's largest co-generation plant, which was inaugurated recently by His Highness the Emir Sheikh Hamad bin Khalifa Al Thani.

According to the agreement, Ras Girtas Power Company will Build, Own, Operate, the plant for 25 years, after which will be fully owned by Kahramaa, the Qatari government's electricity and water authority on a BOOT (Build, Own, Operate, and Transfer) basis. The plant is developed by the Ras Girtas Power Company which is 45% owned  by Kahramaa, 15% by Qatar Petroleum, 20% by JDF Suez, 10% by Japanese Mitsui, 5% by Shubu electricity power, and 5% by Japanese Shikuku for electricity power.

For this colossal QAR 14 billion development, al khaliji has issued the performance bond for the Ras Girtas Power Company to meet some of its shareholder obligations. Since 2008, QAR 563 million has been secured.

al khaliji Chairman and Managing Director H.E. Sheikh Hamad Bin Faisal Bin Thani Al Thani said, "We are proud and honoured to have al khaliji name associated with Ras Laffan C, which in itself is a milestone in the country's infrastructural development."

With corporate and industrial clientele playing a key role in al khaliji's phenomenal growth, the Bank is looking to increase its financing of the power and water sector.

"al khaliji is more than keen to play an important role in the energy sector, and has recently extended its financing to various other projects in the industrial city of Ras Laffan," continued H.E. Sheikh Hamad Bin Faisal Bin Thani Al Thani. "Our support of Ras Laffan C, a station that increases current power output in Qatar and supplies an additional water a day to the country, is testament to our commitment to Qatar's 2030 Vision, led by His Highness the Emir of Qatar."

For more information about al khaliji's investment and financing activities, please visit www.alkhaliji.com.

-Ends- 

about al khaliji
al khaliji is Qatar's pioneer 'next generation bank' offering a full range of conventional banking products and services to retail, business, corporate and institutional customers in Qatar, the U.A.E and France.

Headquartered in Doha, al khaliji is one of Qatar leading banks and a member of the Qatar Exchange Index, with QR 22.01 billion in total assets and QR 9.64 billion in customer deposits as of 31 March 2011.

At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must meet the needs of both this generation and future generations of employees, customers, investors and business partners.

al khaliji's strategy does not simply focus on profitability and increasing market share: it also strives to contribute to the financial sector's sustainability in the markets where the Bank operates.

Al Khaliji France is our subsidiary in Paris, France with a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses the opportunity to expand and grow across the region and throughout Europe.

Visit www.alkhaliji.com and www.alkhaliji.frto discover the latest 'next generation banking' news and information.

For more information,, please contact
Abeer Al Kalla
Head of Public Relations & Communications
Telephone: + 974 4494 0646
Email: aalkalla@alkhaliji.com

© Press Release 2011