Govt invests SR350m for 11 hospitals in KSA

24/04/2014 07:39 AST

China International Development and Investment Corporation Limited (CIDIC), a Hong Kong based investment company, has entered into a cooperation agreement with the Saudi developer, Trans Sadara Company, to set up Lana medical services Projects Company which will develop 11 hospitals with a total of 200 beds in various Saudi cities.

Mohammed Al-Ahmed, member of the board of directors of Trans Sadara Company, in a statement said that the first phase of the project will start in Jubail in the Eastern Province. The first hospital will be built in an area 20,000 square meters with total investment of SR350 million. The 11 planned hospitals will be spread various cities like Dammam, Riyadh, Jiazan, Yanbu etc.

Each of the hospitals will have patient and rehabilitation center, well-equipped surgical units including pharmacy. Both the venture partners have initiated incorporation procedure with Saudi Arabian General Investment Authority (SAGIA).

Each Hospital with a minimum investment of SR350 million will serve with both Chinese and Western medical treatment methods. CIDIC aims at investing for the promotion of Chinese medicine and medical treatment methods in the Arab region.

CIDIC on behalf of the joint venture company is short listing contractors for the project. Various specialized Chinese contractors have expressed their interest in the project and are under consideration. The bidding process will start soon after the completion of incorporation procedure.

Al-Ahmad said that the joint venture partners desired to see that with this project, the medical cost in the Kingdom is substantially reduced with better health environment and more options.

Saudi Gazette