Contractors raise $284m to support work at Bahrain airport

Contractors working on Bahrain International Airport have raised KD 107m ($283.6m) in financing to support their work on the modernisation of the airport, a statement from the lenders said on Wednesday.

The facility covers the bonding and working capital requirements of the joint venture completing the work, according to a statement from Mashreq which arranged the facility. Jordan’s Arab Bank also joined the financing.

The joint venture includes Dubai-listed Arabtec Holding and Turkey’s TAV Construction (TAV), which was appointed to complete the main work for the $1.1bn modernisation and expansion project in January.