Saudi Gazette report

RIYADH — The Ministry of Finance has announced on Wednesday plans to implement several measures aimed at stabilizing the financial structure of the Binladin Group.

These measures include a series of arrangements to settle the group's outstanding cash dues to banks, which involve providing loans to the group and considering an increase in the government's stake in the company.

This initiative is designed to enhance the Binladin Group's ability to complete its ongoing projects, particularly those related to the Holy Mosques.

As one of the largest companies in the regional construction sector, the group's strengthened financial position will enable it to secure the necessary financing for various contracted projects.

The Ministry of Finance emphasized that this support is part of the continued government backing provided to the construction and building sector in recent times. This initiative aims to ensure the completion of essential projects and to create attractive investment opportunities within the sector.