Finance Ministry plans measures to support Binladin Group

Logo of Saudi Binladin Group (SBG)

The Ministry of Finance intends to take a number of measures to assist Saudi Binladin Group (SBG) in stabilizing its financial structure, the Saudi Press Agency reported.

The measures include a series of arrangements to pay the banks' dues, such as lending to the group and considering the increase of the government's stake in the company.

This support will enhance SBG's ability as one of the key players in the sector regionally, to complete its existing projects, topped by the Two Holy Mosques. In addition, this will also contribute to strengthening the group's financial position and enabling it to obtain the necessary financing to implement its various projects.

The ministry also confirmed that this is part of the government's continued support for the construction sector, allowing for the completion of critical projects and creating attractive investment opportunities in the sector in line with Vision 2030.