Financial close has been reached for the €1.1bn (£807m) Etlik Integrated Healthcare Campus public-private partnership project in Ankara, Turkey.
Mott MacDonald is lenders’ technical and environmental advisor for the development and will now provide construction and operational monitoring services.
Etlik will be one of the world’s largest hospital campuses, providing 3,577 beds across more than one million square metres. The complex, which will be made up of a main core structure and six towers, will consist of a general hospital and a range of specialist units.
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, planned service delivery, capital and operating expenditure, lifecycle costing and the project’s payment mechanism.
Mott MacDonald was appointed in November 2012 and project concessionaire Astaldi finalised €880m of finance for the scheme last June (links open in new tabs).
Construction of the Etlik Integrated Healthcare Campus is expected to take up to three and a half years, which will be followed by a 24-year operating term.