Saudi Arabia’s Public Investment Fund is seeking financing from foreign lenders to complete the troubled Aramco Stadium project in Al Khobar, following a cash shortage at Aramco that has left it unable to meet payments owed to the project’s contractors.

In an effort to rescue the stalled project, Saudi Arabia has appointed JPMorgan to raise financing from lenders or arrange the sale of the project to foreign investors.

Saudi Arabia had announced the construction of several new stadiums as part of its preparations to host the FIFA World Cup, including Aramco Stadium in Al Khobar. However, the extensive withdrawal of Aramco’s liquidity by Mohammed bin Salman has reportedly depleted the company’s budget, leaving it unable to cover the project’s costs, including construction materials, engineering works, and payments to contractors.