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Muscat Capital appointed as financial advisor of Saudi proton therapy project

MUSCAT, 17 January 2012 - Muscat Capital, the investment banking subsidiary of BankMuscat in Saudi Arabia, has been appointed as financial advisor for Abdul Mohsen Al Muhaisen Sons Holding Company, which recently signed a concession agreement with the Ministry of Health, King Fahad Medical City, to develop, design, finance and commission Saudi Particle Centre (SPC) project, a proton therapy centre for treatment of cancer patients. Muscat Capital will serve as financial advisor for the major health project.

AbdulRazak Ali Issa said: “We are pleased to be appointed as the financial advisor of Abdul Mohsen Al Muhaisen Sons Holding Company and the Saudi Particle Centre (SPC) project. BankMuscat is committed to offering all facilities to ensure the success of the health project. The new financial advisory mandate strengthens the Bank's track record of successful transactions amidst challenging market conditions. We are grateful to Abdul Mohsen Al Muhaisen Sons Holding Company for placing their confidence in us. We would also like to thank the Ministry of Health for their guidance and support."

AbdulRazak added: “BankMuscat is one of the few GCC based banks which is in a position to provide customers and counterparts pan-GCC coverage. We are confident that the skills and the extended franchise of BankMuscat in Saudi Arabia will enable us to continue our successful run as the number one team in the region."

As financial advisor to Saudi Particle Centre (SPC), the role of Muscat Capital includes preparation of financial model for the project to ensure model key financing options, and preparation of a financing strategy for successful fund raising and identifying potential lenders (local, regional, international), negotiation and execution of financing agreements.

Armed with the strong credentials and support of BankMuscat, Muscat Capital aims to recreate the success story in the areas of investment banking, brokerage and wealth management in Saudi Arabia.