15 March 2011
MUSCAT: Oman Arab Bank (OAB), in cooperation with Arab Bank/Bahrain and Europe Arab Bank (EAB), has offered credit facilities amounting to $410 million for the contractors' group to construct the new Muscat International Airport facilities project.
The facilities have been granted to a consortium of corporations including three major contracting companies. The facilities included performance bonds and advance payment guarantees in addition to other credit facilities.
The new Muscat International Airport project is one of the large-scale infrastructure projects underway in the Sultanate.
Airport capacity
The capacity of the new airport is expected to handle 20 million passengers annually. The project includes the new terminal which is equipped with all modern services that help expedite passengers' transactions.
This is in addition to a four-star hotel consisting of 90 rooms, car parks, and green landscapes. Oman Arab Bank and Arab Bank Group (ABG) offering these facilities come in line with the pioneering role OAB has been playing with the support of the ABG to present financing solutions that keep pace with the needs and demands of major projects with strategic dimensions in Oman.
Since its inception, the Oman Arab Bank has been contributing to all the projects at all the different finance sectors in the Sultanate.
The choice of OAB and ABG indicates the great trust and the distinguished reputation which the bank enjoys both in Oman and across the world.
MUSCAT: Oman Arab Bank (OAB), in cooperation with Arab Bank/Bahrain and Europe Arab Bank (EAB), has offered credit facilities amounting to $410 million for the contractors' group to construct the new Muscat International Airport facilities project.
The facilities have been granted to a consortium of corporations including three major contracting companies. The facilities included performance bonds and advance payment guarantees in addition to other credit facilities.
The new Muscat International Airport project is one of the large-scale infrastructure projects underway in the Sultanate.
Airport capacity
The capacity of the new airport is expected to handle 20 million passengers annually. The project includes the new terminal which is equipped with all modern services that help expedite passengers' transactions.
This is in addition to a four-star hotel consisting of 90 rooms, car parks, and green landscapes. Oman Arab Bank and Arab Bank Group (ABG) offering these facilities come in line with the pioneering role OAB has been playing with the support of the ABG to present financing solutions that keep pace with the needs and demands of major projects with strategic dimensions in Oman.
Since its inception, the Oman Arab Bank has been contributing to all the projects at all the different finance sectors in the Sultanate.
The choice of OAB and ABG indicates the great trust and the distinguished reputation which the bank enjoys both in Oman and across the world.
© Times of Oman 2011
