Equipment lease deal for Doha Expressway costs $1.1b

Dubai: Bahrain-based First Leasing Bank has signed a $13.5 million agreement to lease some construction and transportation equipment to Konstruktor Engineering Qatar, which is working on the third phase of the $1.1 billion Doha Expressway project.

The expressway is a key infrastructure development that will link the north and south of Qatar to the road network of Saudi Arabia.

The mega project is being implemented by the Qatar Public Works Authority and covers 13 phases.

It includes the construction of a three-lane dual carriageway, service roads on both sides, and two multi-level interchanges, in addition to the development of the network infrastructure and landscaping work.

"The Doha Expressway is one of the Gulf region's most ambitious road projects to date and Konstruktor is extremely proud to participate in its development,'' said Zvonko Toula, Konstruktor Middle East chief executive officer.

Qatar also has other projects lined up as its five-year plan includes the completion of 40 major road projects and infrastructure developments at a total cost of over QR14 billion.