FINANCIAL NEWS

USD373m new healthcare deals for Saudi

10 Mar 2012

(MENAFN) Saudi Health Minister Dr. Abdullah Al-Rabeeah signed five contracts worth more than USD373.2 million as part of a USDUSD4.26 billion budget allocated to develop the kingdom’s health sector, Arab News reported.

Al-Rabeeah signed a contract worth USD171.14 million contract with Al-Fawzan Trading and Contracting Company for the first phase of the King Faisal Medical City which will include specialized hospital, eye hospital, cardiac and neuroscience hospitals with a total of 1,350 beds. It will also have 200 housing units and 200 independent apartments for its staff.

The minister also signed a USD119.42 million contract with Al-Rashed Contracting Company for the construction of a 15-floor tower, to be completed within a period of three years.

The third contract, worth USD67.17 million, was signed with Musad Al-Otaibi Contracting Company for a children and maternity hospital with a capacity of 300 beds in Sakaka in Al-Jouf.

Al-Rabeeah also signed two more contracts with Al-Baeez Contracting Company and Al-Khareef Company for the installation of generators and elevators in several Ministry of Health facilities throughout the Kingdom, to be completed within a period of nine months.

Last month, OPEC’s largest oil exporter signed over USD799.7 million worth of contracts with 30 private sector companies for health projects spanning hospitals projects, supply of pharmaceutical products and equipment, biomedical engineering projects, hospital supplies and furnishing of newly built hospitals throughout the Kingdom.

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