(MENAFN) Saudi Binladin Group's creditors have confirmed to extend by two years an USD1.1bn Islamic credit facility to pay for building work at Grand Mosque in Mecca.
However, one of the heavyweights of the kingdom's construction sector has been struggling due to delayed payments from the government.
Meanwhile, creditors have inked documentation to extend by two years 4bn riyals of the whole 10bn riyals of a facility it had drawn down.
In addition, the firm has been involved in many major infrastructure developments in recent years, but it has been hit by a stalling of projects.
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