Funding agreed for Turkey hospital project

WCN Editorial Team 25 Oct 2016 EUROPE BUILDINGS

The European Bank for Reconstruction and Development (EBRD), the Export Development Canada (EDC) and the Overseas Private Investment Corporation (OPIC) are co-financing the construction of a €769.6M hospital in Izmir, Turkey.

The hospital complex will include several buildings, to be leased to Turkey’s Ministry of Health under a 28-year concession, and a total of 2,060 beds.

The Izmir Bayrakli hospital will be designed, built, equipped and managed by İzmir Bayraklı Hastane Yatirim Ve Sağlık Hizmetleri — a joint venture between GE and Turkish corporations GAMA Holding and Türkerler İnşaat.

EBRD director of operations in Turkey Jean-Patrick Marquet said: “Arranging this comprehensive long-term financial package for a new Izmir hospital is part of the EBRD’s efforts to catalyse private sector involvement in critical infrastructure in Turkey which brings money and know-how, and ultimately benefits people's ‎lives across the country.”

The hospital is expected to commence operations in 2019.

* Data provided by Timetric's Construction Intelligence Center.

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