Financial Close of Al Ansar Hospital PPP project in Saudi Arabia
Tamasuk, Alghanim Consortium has announced the Financial Close of the Al Ansar Hospital PPP project in Madinah, Saudi Arabia.
The initiative encompasses the financing, design, procurement, construction, commissioning, and 20-year operations and maintenance of a 244-bed public emergency hospital along with related facilities. Tamasuk, acting as the Managing Member, and Alghanim International are collaborating on the development of a new hospital, following the signing of a 20-year Project Agreement with the Ministry of Health in February 2023. The project's Lenders Group includes Alinma Bank, Natixis Corporate & Investment Banking, and Riyad Bank. The hospital will primarily serve as an emergency facility for pilgrims and residents in Madinah. The consortium is also responsible for providing and maintaining medical equipment for the hospital over the long term.
Construction commenced on Al Ansar Hospital in 2023, and it is expected to become operational by 2026.
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