Dallah Health announces signing of contract costing SAR 334 million

25/05/2016 09:57 AST

Dallah Healthcare Holding Company announces the signing of a contract for mechanical, electrical work and plumbing of phase one for Dallah Hospital, Namar, southwest of Riyadh on 24/05/2015G. (corresponding to17/08/1437H) as follow:

1- The contract value is SR 334m.

2- Contract has been signed with the contractor, Hashim Contracting and Trading Co.

3- Performance of this contract is expected to be delivered by 31/07/2017

4- It is planned that this project will be financed with approved Islamic financing from a local bank.

An announcement on the updates of this project was published over Tadawul on 6 July 2015 (corresponding to 19 Ramadan 1436H). It is planned that this Hospital will be constructed in stages, ultimately operating with a maximum capacity of 400 beds and 200 clinics. The first stage is expected to be completed in the third quarter of 2017 with a capacity of 150 beds and 100 clinics.

This project is projected to have material positive effect on the revenues and income of Dallah Healthcare Holding Co after start of its operation.

This contract does not entail any related parties for Dallah Health.

Project developments will be announced in due course.


Tadawul

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