Overview of the New Measures

On Wednesday, the Ministry of Finance announced a set of measures aimed at stabilizing the financial structure of the Binladin Group. These steps include arrangements to settle the group’s outstanding cash dues to banks, providing loans, and considering an increase in the government's stake in the company.

Details of the Support Plan

1. Settling Outstanding Dues

The measures involve settling the Binladin Group’s outstanding cash dues to various banks, which is expected to alleviate financial pressure and improve liquidity.

2. Loan Provision

The government plans to provide loans to the Binladin Group to support its ongoing projects, ensuring that the company has the necessary funds to continue its operations.

3. Increase in Government Stake

There is also consideration of increasing the government’s stake in the company, which could provide additional financial stability and support for the group’s activities.

Impact on Ongoing Projects

This initiative is designed to enhance the Binladin Group's ability to complete its current projects, particularly those related to the Holy Mosques. With a strengthened financial position, the group will be better equipped to secure the necessary financing for various contracted projects.

Government Support for the Construction Sector

The Ministry of Finance emphasized that this support is part of the continued government backing for the construction and building sector. The aim is to ensure the completion of essential projects and to create attractive investment opportunities within the sector.