The International Finance Corporate has announced that the Alexandria hospitals project has reached commercial close stage.

After two consortia submitted final offers for the PPP hospitals in Alexandria, Egypt, on October 22 of 2011, The Arab Academy consortium composed by Albareek Investments, DETAC Contracting, G4S and Siemens was announced the preferred bidder for the project.

The consortium will finance, design, construct, furnish, equip, maintain, and provide non-clinical facility services the Smouha and Mowassat hospitals in Alexandria. Smouha Maternity University Hospital is planned as a 200-bed gynecology and obstetrics center with a blood bank. The Mowassat Specialized University Hospital will be a 224-bed facility providing neurosurgery, urology and nephrology services.

IFC (financial), Mott Macdonald (technical) and Trowers and Hamlins (legal) are advising the government ont this PPP project.

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