Saudi Binladin receives multi-billion dollar government loans-sources:
"Saudi Arabia’s finance ministry has provided Saudi Binladin Group with loans of around 11 billion riyals ($2.9 billion) to help turn around the fortunes of the construction giant, people familiar with the matter said. The money will be used to prioritise work on projects deemed key to the government, as well as to pay staff and creditors, the people said, with one adding that further cash transfers from the government are possible in the near future. Binladin, which had over 100,000 employees at its height, is the biggest builder in the country and crucial to Riyadh’s plans to develop property, industrial and tourism projects to help diversify the economy beyond oil."
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