Mott MacDonald's due diligence during the project's financing stage included reviewing potential technical issues and commercial implications arising from the project agreement and schedules. The consultancy also appraised the stakeholders' competence, track record and capabilities, as well as the design solution, construction planning, capital and operating expenditure, lifecycle costing and the project's payment mechanism.
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 providing a senior loan totaling €890 million. In addition, equity contribution was provided by the lead investor D?A Holding.
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.
Burak Sencer, Mott MacDonald's country manager for Turkey, said:
"Bilkent is the third healthcare PPP financing in Turkey to reach financial close following Adana and Mersin. Mott MacDonald is technical advisor on eight projects in the overall programme, which reaffirms our position as the pre-eminent lenders' technical advisor in global PPP markets."