Astaldi and Turkeler seek IFC support for Etlik hospital PPP

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Astaldi and Turkeler seek IFC support for Etlik hospital PPP

The consortium formed by Astaldi S.p.A. and Turkerler Construction, which won the tender process for the Turkish Ankara Etlik Health Campus PPP project in 2011, is seeking the financing support from the International Finance Corporation (IFC) to develop the project.

The project entails the construction, operation and maintenance of an integrated health campus in Etlik, Ankara, as part of the PPP program developed by the Turkish Ministry of Health. The program aims at renovating, and enhancing quality and efficiency of healthcare services in state-owned hospitals by consolidating small state-owned hospitals under larger campuses.

Etlik Health Campus will comprise 11 different buildings with a total capacity of 3,566 beds. It will include:

  • a general hospital (694 beds),
  • a women's hospital (500 beds), a children's hospital (468 beds),
  • a cardiovascular surgery hospital (362 beds),
  • an oncology hospital (484 beds),
  • an orthopedic hospital (478 beds) and
  • a rehabilitation hospital (300 beds).

Other facilities will include an autism center (40 beds), a diagnosis and treatment unit (34 beds), a psychiatric hospital (106 beds) and a high-security psychiatric hospital (100 beds) The planned construction period is 42 months, to be followed by operational period of 24 years.

The total project cost is expected to be approximately €1.2 billion (US$1.5 billion). The proposed IFC investment will be in the form of a €75 million A loan for IFC's own account and mobilization of a B loan to be syndicated to commercial banks.

The project aims to improve infrastructure for public health services in Ankara, especially in underserved specialized areas of oncology, cardiovascular surgery.

The successful financing and implementation of this flagship project under the program is expected to lead the way for the rest of the projects in the program.

Additionally, it is expected that the project will have a demonstration effect in the region and for other sectors, where PPP models are being investigated as an alternative to improving social infrastructure, and are expected to follow the example of the Turkish healthcare PPP program.

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