Bloomberg News

Qatar’s Al Khaliji Bank Starts World Cup Contracting Division

November 02, 2011

Nov. 2 (Bloomberg) -- Al Khaliji, a Qatari bank, said it will start a contractor-finance division for construction related to the 2022 World Cup soccer tournament, to be hosted by the Persian Gulf emirate.

Qatar is likely to spend $150 billion on hosting the tournament, Robin McCall, Al Khaliji’s group chief executive officer, said in a release posted on the Qatar Exchange today.

“The major projects include development of metro rail, state-of-art stadiums, hotels as well as other infrastructure projects,” he said. “Contractors and subcontractors involved in these projects will need to resort to bank finance.”

--Editors: Alan Purkiss, Peter Branton

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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