Alghanim announces financial close for 244-bed Madinah hospital
MADINAH (Saudi Arabia), March 12, 2024
Alghanim International, a leading engineering, procurement and construction contracting company in Kuwait, said its consortium with Saudi infrastructure major Tamasuk has achieved the financial close for the Al Ansar Hospital Public-Private Partnership (PPP) project, thus marking a significant milestone in the healthcare infrastructure of the kingdom.
The PPP project was awarded to the consortium by the Ministry of Health Saudi Arabia (MOH) in collaboration with the National Center for Privatization & PPP (NCP).
The project scope includes finance, design, procurement, construction and commissioning as well as providing operations and maintenance services for the emergency hospital and associated facilities for 20 years.
Announcing the financial close, Alghanim said as per the deal the consortium will develop the 244-bed Al Ansar Hospital in the city of Madinah.
The groundbreaking project for KSA, realised under the Ministry of Health Saudi Arabia PSP Initiative, sets a precedent for future healthcare PPPs and underscores our commitment to advancing healthcare services, it stated.
"Our project has been made possible through the expertise and dedication of our esteemed architects and engineers from RSO Architecture and Consolidated Consultants Group (CCG)," said a spokesman for Alghanim International.
"We are proud to say that this project is set to achieve the LEED Gold Standard for energy efficiency and water management, along with ambitious waste management and reduction targets," he added.
The key lenders involved in the PPP financial close are Alinma Bank, Natixis Corporate & Investment Banking, and Riyad Bank.-TradeArabia News Service
