Turkey's YDA Group has secured €315 million (US$395 million) financing for the development of the Kayseri health campus PPP project in Turkey.
The total project investment is estimated at €420 million (US$526.6 million). YDA will fund the remaining €105 million from its equity capital.
The International Finance Corporation (IFC) announced in mid July that it was considering providing a €35 million loan to finance the project.
Turkish construction firm YDA Insaat ve Ticaret and Italian general contractor 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.
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 recently reported about another similar PPP project in Turkey, the Adana Health Campus. The IFC has also recently announced plans to finance the project. The total project investment is estimated at €467 million and the hospital complex comprises of an integrated health campus with a total capacity of 1,550 beds consisting of three hospitals.