State-run Economic Zones Company, a committee of the Ministry of Economy and Commerce signed the deal with the Islamic lender
Qatar's Masraf Al Rayan has signed a deal with the government to provide 1.8 billion riyals ($494.4 million) of financing that will be used to build the largest logistics project in the country's south, a bourse filing said on Sunday.
State-run Economic Zones Co (Manateq) and a committee of the Ministry of Economy and Commerce signed the deal with the Islamic lender.
This will enable the committee to build the project and provide land for investors, the statement added. It did not provide further details on the terms or type of financing agreed.
The development is located in Wakrah, about 20 kilometres south of Qatar's capital Doha.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.