Turkey's Akfen obtains $230mn loan for Eski?ehir City Hospital PPP

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Turkey's Akfen obtains $230mn loan for Eski?ehir City Hospital PPP

Turkish conglomerate Akfen Holding has announced that its construction unit Akfen Insaat has closed financing for the Eski?ehir City Hospital PPP project in Turkey.

Bankasi, one of Turkey's largest private lenders, has provided a US$230 million loan to develop the city hospital. The loan has a maturity of 15 years and a grace period of 3 years.

The new facility will have a total capacity of 1,081 beds which will help fulfill the growing demand for healthcare in the Eski?ehir area. Healthcare facilities in this new complex will include:

  • General Hospital,
  • Oncology Hospital,
  • Cardiovascular Diseases Hospital and
  • High-Security Forensic Psychiatric Hospital.

The project involves the development of the new facilities against a lease payment and provision of products and services for the hospital for 25 years.

Turkey's Akfen Insaat was selected as the preferred bidder for the project in January this year. The firm offered an all-inclusive yearly price of TRY127.9 million (US$52,8 million). The company beat out competition form other eleven qualified firms.

Akfen Holding achieved commercial closure in September 2013 for another hospital PPP project in the western Turkish city of Isparta with an expected to cost TRY573 million (US$236.5 million).

In December 2014, Ronesans Holding and Meridiam Infrastructure reached financial close for the Adana Integrated Healthcare Campus PPP project, in the southern Turkish city Adana.

Earlier in November 2014, DIA Holding secured a €272 million (US$311.4 million) financing package to develop the Turkish Mersin PPP Integrated Health Campus PPP project. In November Turkey's YDA Group secured €315 million (US$395 million) financing for the development of the Turkish Kayseri health campus PPP project.

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