/PRNewswire/ Qilian International Holding Group Limited (Nasdaq: QLI) (the "Company"), a China-based pharmaceutical and chemical products manufacturer,.
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By Reuters Staff
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DUBAI, April 15 (Reuters) - Binladin International Holding Group, Saudi Arabia’s biggest construction company, expects to reach an initial agreement to restructure its debt by June, Al Arabiya TV channel reported on Thursday citing CEO Khalid al-Gwaiz.
He declined to disclose the size of the debt pile, but told Al Arabiya it was “not far from” 33 billion riyals ($8.8 billion) and added that the ongoing restructuring process with lenders is the biggest in the Middle East.
Binladin has been in talks since last year to refinance billions of dollars in debt, appointing Houlihan Lokey as financial adviser, sources have said.
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The holding company of Saudi Arabia s biggest contractor made two senior-level appointments as part of its ongoing restructuring.
Binladin International Holding Group appointed Balaji Prasad as group chief financial officer and Roberto Liuzza as group chief organisation excellence officer.
The pair are among recent appointments made at a senior level to overhaul the organisation s governance and operations , the company said in a statement on Sunday.
The new hires follow on from the recruitment over the past 12 months of Ahmed Al Sanie as group managing director, Abdulrahman Bajunaid as chief executive of real estate and Samer Khawashki as chief executive of investments, it added.
Saudi Binladin International announces major appointments
DUBAI, 1 days ago Binladin International Holding Group (BIHG) has announced the expansion of its executive leadership team with the appointment of Balaji Prasad as the new Group Chief Financial Officer and Roberto Liuzza as the Chief Organisation Excellence Officer. The parent company of Saudi Binladin Group, the largest construction conglomerate in the kingdom, BIHG said the appointments of Prasad and Liuzza are recent ones made at a senior level to overhaul the organisation s governance and operations. Other appointments included Ahmed Al Sanie as Group Managing Director; Abdulrahman Bajunaid as CEO of Real Estate; and Samer Khawashki as CEO of Investments over the past year, said the statement from the company.