Project Information
Project name: Turkey: Kocaeli hospital PPP
Project description:

A Turkish-American consortium has signed a finance package for the Kocaeli hospital PPP in Turkey. 

The €375.75m high-tech hospital in the north-western Turkish province of Kocaeli will be designed, built, equipped and managed by Kocaeli Hastane Yatırım ve Saglık Hizmetleri, a joint venture between US conglomerate GE and Turkish firms GAMA and Turkerler.

The European Bank for Reconstruction and Development has arranged a €62.7m syndicated loan under its A/B loan structure, with €20m for the bank’s own account and €42.7m syndicated to UniCredit, Industrial and Commercial Bank of China, and Intesa Sanpaolo.

Parallel financing of $220m and €55m has been provided by US government development finance arm Overseas Private Investment Corporation, and Export Development Canada.

The new health complex will span several buildings and have a total of 1,180 beds. Under a 28-year concession, the buildings will be leased to Turkey’s Ministry of Health. 

The private developer will act as facilities manager, providing building maintenance and non-clinical services, while medical services will remain the remit of the Ministry. The hospital is expected to become operational in 2019.

Last month the same financiers signed the Izmir Hospital.

Related Articles

9 November 2016 - GE signs Kocaeli hospital PPP 

21 October 2016 - GE signs Turkish hospitals deal 

28/02/2013 -  Bids in for Turkish Kocaeli PPP


Type: PPP
Sector: Health
Region: Southern Europe
Current status: Project Signed - 12/09/2013
Contract Terms
Duration: 28 years
Capital value: €375.00m
Public Sector Procuror Details
Authority/Commssioning body: The Turkish Ministry of Health
Private Sector Details
Consortium name: Gama Holding
Private sector shareholders: Gama - Shareholders
Turkerler Construction - Shareholders
Private Sector Shortlist
Consortium name: Senturkler Muh. Muth. Ins. Taah. Turz. San. ve Tic. A.S
Consortium name: YDA Insaat Sanayi ve Ticarat A.S
Consortium name: Emsas Ins. Tur. Tic. ve San A.S

This page was last updated on:
11 November 2016.


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