Dubai – Mubasher: Dubai’s Mashreq Bank concluded a credit facility agreement worth BHD 107 million (AED 1.03 million) with the joint venture including UAE’s Arabtec and Turkey’s TAV, according to the bank’s press release.

The loan will be allocated for fulfilling contractual liabilities regarding the development of the new Bahraini airport terminal, the bank added.

Mashreq acted as the exclusive book runner and coordinator for the facility, while the Arab Bank was the joint lead arranger under the facility.

Earlier, the joint venture was awarded a contract worth BHD 382.9 Million (AED 3,750 Million) for this project that will increase the current yearly capacity from 4 million to 14 million passengers.

The terminal is expected to be completed during 51 months.