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D?A Holding has achieved financial close to develop the Bilkent Integrated Healthcare Campus PPP project in Turkey, one of the world's largest greenfield healthcare projects.
The total project investment is estimated at €1.2 billion (US$1.3 billion). The Financial Services Division of Siemens (SFS) along with Unicredit and other Turkish banks are providing a senior loan totaling €890 million(US$969 million). In addition, equity contribution is provided by the lead investor D?A Holding completing the total funding for the project.
Located 7 kilometers south of the city of Ankara on an area of 1.2 million m², the 3,662-bed health campus will include; a general hospital (562 beds), a women's hospital (574 beds), a children's hospital (514 beds), a cardiovascular surgery hospital (425 beds), a oncology hospital (557 beds), a neurological science and orthopaedics hospital (412 beds) and a physical therapy & rehabilitation hospital (300 beds), as well as a psychiatric hospital (198 beds), a high-security forensic psychiatric hospital (100 beds), a burns unit (20 beds) and a diagnosis and treatment centre. Other facilities available on the campus include a technical services building, a clinic hotel and a new main administrative centre for the Republic of Turkey's Ministry of Health.
The project scope includes the design, procurement and construction of the hospital buildings including the refurbishment of certain areas included in the project perimeter and the operation and maintenance over a 25-year period. The operation responsibilities include routine and heavy maintenance and the provision of non-clinical services and clinical support services.
Anthony Casciano, CEO of Healthcare Finance at SFS, commented:
"The Turkish healthcare market is experiencing a tremendous transformation - a result of the government's clear vision for ambitious healthcare reforms. Last December's Adana project proved to be a good example for successful PPP financings in Turkey, and now Ankara Bilkent is setting a benchmark for the levels of funding that PPP models can achieve."
Hüseyin Gelis, President and CEO of Siemens Turkey, stated:
"Siemens is pleased to cooperate with D?A Holding, UniCredit and the Turkish banks. For around 160 years, Siemens has provided cutting-edge technology and solutions as a local partner in Turkey and supported them in industrialization development. We are proud to remain the trusted partner in the growth of our country today and for years to come."
Mehmet Ali Bayar, Board Member of D?A Holding, added:
''As the investors of the biggest hospital compound in Europe, Ankara Bilkent Integrated Health Campus, we as D?A Holding are proud that this will be the largest financial investment by Siemens in the Turkish health sector and consider our cooperation with a global giant such as Siemens a long-term strategic decision that will have a direct impact on Turkey's new growth prospects as well.''
On 21 June 2010 was launched the tneder process for the project and later on 10 October 2011, the administration awarded the health PPP project to the Dia Holding FZCO.
During this year two other heath PPP projects in Turkey have reached financial closure: