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Turkish developer YDA and Italian developer Inso have closed a €315 million (US$347 million) financing package for the development of the Kayseri health campus PPP project in Turkey.
The total project investment is estimated at €420 million (US$462.6 million). The €315 million (US$347 million) financing package has been provided by Ziraat Bank, Finansbank and the International Finance Corporation (IFC).
Signing of the first set of documents took place in November 2014, and now, according to local sources, the entire financing package has been completed.
YDA Insaat ve Ticaret and INSO Sistemi Per Le Infrastrutture Sociali S.p.A. set up in 2011 a special purpose vehicle to carry out the project.
The new Kayseri health campus will be a multi-specialty main hospital with 1,083 general treatment beds and 200 psychiatric beds, a 200-bed center for physical therapy and rehabilitation, a 100-bed high security psychiatric hospital, an administration building and a technical service center.
The project involves the development, design, financing, construction and services provision for the Kayseri Integrated Health Campus as part of the Ministry of Health's Health Transformation Programme. The project has a construction period of three years plus 25 years of operational period.
As part of the project, in addition to facility management and general services such as catering, laundry, cleaning, the project company will provide the following clinical support services: laboratory, imaging, rehabilitation, sterilization and disinfection.
We have recently reported on several PPP projects in Turkey: