Meezan Bank announces successful financial closure of Rs69bn pipeline project

MG News | February 17, 2024 at 05:39 PM GMT+05:00

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February 17, 2024 (MLN): Meezan Bank Limited (PSX: MEBL) has announced the successful financial closure of a water pipeline project valued at Rs69 billion undertaken by Enertech Water Private Limited, as revealed by the bank in its latest post on X (formerly known as Twitter).

This pipeline spans 61 kilometers and is intricately designed to deliver water from Nabisar to Vajihar, Sindh.

Notably, this project is one of the largest Government-to-Government (G2G) initiatives executed under the Public-Private Partnership (PPP) mode.

Meezan Bank played a pivotal role in structuring, arranging, and closing the financing for this venture as the Mandated Lead Arranger and Advisor, uniting a consortium of 11 banks and Development Financial Institutions (DFIs).

"In its multifaceted capacity, Meezan Bank will continue to serve as the Investment Agent, Security Agent, Shariah Structuring Bank, and Accounts Bank for this project," it further stated.

This milestone underscores MEBL's unwavering dedication toward the country's financial sector and catalyzing progress in critical infrastructure endeavors.

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