Qatari conglomerate Mekdam Holding Group has secured a financing deal with Arab Bank. 

The banking facilities agreement, with a total value of 67.5 million riyals ($18.5 million), is intended to finance recently awarded projects, Mekdam Holding told the Qatar Stock Exchange. 

The company is engaged in businesses in manufacturing and processing, consultancy, trading, real estate, construction and engineering. 

Early this month, the company signed an agreement worth 63 million riyals with Qatar Petroleum. The deal brought the company’s total value of awarded contracts this year to 560 million riyals. 

Mekdam Holding’s net profit for the first nine months of the year reached more than 18.37 million riyals, up from 16.79 million riyals in the same period last year. 

(Writing by Cleofe Maceda; editing by Seban Scaria) 

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