Dallah inks MoU to set up hospital in Jeddah

25/05/2016 Argaam

Dallah Healthcare Co. signed a memorandum of understanding (MoU) on Tuesday with Shibh Al Jazira Contracting Co. to set up a closed joint-stock company that will build and operate a hospital in Jeddah.

 

The project is subject to approvals and the necessary licenses, Dallah said in a statement to Tadawul.

 

The new company’s capital will consist of cash and in-kind shares represented in land with a total area of 150,000 square meters in North Eastern Jeddah.

 

The total size of the capital and the value of the project will be set after the two parties determine the size of their stakes and evaluate equity contributions.

 

The MoU is valid for one year from signing date and doesn’t include any related parties, the company added.

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