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FINANCIAL NEWS
Saudi loans USD25.5m to Bosnian road project
10 Apr 2011
(MENAFN) The Saudi Fund for Development’s vice chairman and managing director, Yousef bin Ibrahim Al-Bassam, said that the fund made a loan amounting to USD25.5 million to Bosnia to be used in developing a new road in the center of the country, reported Arab News.
This is one of two contracts signed with Bosnia in a business forum that took place this month in the Kingdom.
Al-Shiddi Group director, Sulaiman Al-Shiddi, said he signed a contract for forming a USD5 million joint venture with Bsonic Energoinvest, a company that specializes in engineering.
It is worth noting that the new deals are a result of Saudis forming a company last year aiming at defining prospective projects in Bosnia for Saudi investors.
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