04 August 2008
Bahrain-based First Leasing Bank, the first institution in the GCC specialising in equipment leasing, has signed a $13.5 million agreement to lease construction and transport equipment to Konstruktor Engineering, Qatar. The leased equipment will be used by Konstuktor to complete the third phase of the $1.1 billion Doha expressway project, a key infrastructure development linking the north and south of Qatar to the road network of Saudi Arabia.
The agreement was signed by First Leasing Bank chief executive officer Gregory Brinkerhoff and Konstruktor Middle East CEO Zvonko Toula in the presence of FLB business-development director Jassim Awadh and other officials from both companies. "First Leasing's involvement in one of Qatar's most prominent infrastructure projects, the $1.1 billion Doha expressway, reflects the strength of our integrated leasing capabilities.
"As part of FLB's GCC-wide support strategy, we are very pleased to expand our presence in Qatar through this lease agreement with Konstruktor," said the bank CEO. Earlier this year, First Leasing signed a $23 million agreement to lease medical equipment to al Seif Hospital, Kuwait, which is slated to be one of Kuwait's foremost medical facilities.
Doha expressway, a mega-project being carried out by the Qatar's public works authority (PWA), comprises 13 phases in total. The project includes construction of a three-lane dual carriageway, service roads on both sides and two multi-level interchanges in addition to development of the network infrastructure and landscaping work.
Konstuktor was awarded a contract by the government of Qatar for the construction of the third phase of the Doha expressway project. The company is planning to support several other key infrastructure projects within Qatar and the GCC states.
Bahrain-based First Leasing Bank, the first institution in the GCC specialising in equipment leasing, has signed a $13.5 million agreement to lease construction and transport equipment to Konstruktor Engineering, Qatar. The leased equipment will be used by Konstuktor to complete the third phase of the $1.1 billion Doha expressway project, a key infrastructure development linking the north and south of Qatar to the road network of Saudi Arabia.
The agreement was signed by First Leasing Bank chief executive officer Gregory Brinkerhoff and Konstruktor Middle East CEO Zvonko Toula in the presence of FLB business-development director Jassim Awadh and other officials from both companies. "First Leasing's involvement in one of Qatar's most prominent infrastructure projects, the $1.1 billion Doha expressway, reflects the strength of our integrated leasing capabilities.
"As part of FLB's GCC-wide support strategy, we are very pleased to expand our presence in Qatar through this lease agreement with Konstruktor," said the bank CEO. Earlier this year, First Leasing signed a $23 million agreement to lease medical equipment to al Seif Hospital, Kuwait, which is slated to be one of Kuwait's foremost medical facilities.
Doha expressway, a mega-project being carried out by the Qatar's public works authority (PWA), comprises 13 phases in total. The project includes construction of a three-lane dual carriageway, service roads on both sides and two multi-level interchanges in addition to development of the network infrastructure and landscaping work.
Konstuktor was awarded a contract by the government of Qatar for the construction of the third phase of the Doha expressway project. The company is planning to support several other key infrastructure projects within Qatar and the GCC states.
© Bahrain Tribune 2008
