UK taxpayers underwrite French contractor’s Saudi project
The Six Flags Qiddiya City theme park is being built on a 334 sq km place southwest of Riyadh The UK’s export credit company has assured an Islamic Murabaha financing facility for the improvement of Six Flags Qiddiya City attain Riyadh. UK Export Finance (UKEF) has assured an Islamic Murabaha financing facility for £550m signed
The UK’s export credit company has assured an Islamic Murabaha financing facility for the improvement of Six Flags Qiddiya City attain Riyadh.
UK Export Finance (UKEF) has assured an Islamic Murabaha financing facility for £550m signed by Qiddiya Investment Company to finance the construction of the theme park. Here is being undertaken by a joint mission led by Bouygues Bâtiment Worldwide of France and native company Almabani General Contractors.
UKEF reckons that by getting spirited, British suppliers will be ready to catch in on the motion.
UK Export Finance chief executive Tim Reid mentioned: “Saudi Arabia’s ‘Imaginative and prescient 2030’ is hugely dauntless, and UKEF is particular to invent particular that British companies can own the motivate of the massive exporting alternatives it provides.
“This new landmark deal now not only creates provocative swap for UK suppliers, but demonstrates UKEF’s ability to unlock new sources of commercial finance to invent transformative projects that you might possibly well imagine spherical the realm.”
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