Egypt's ministry of higher education is expected to offer the Suez Canal University Specialized Hospital project for Public Private Partnership (PPP) in November, a government source told Zawya.
"The project's total cost is set to be determined once all the relevant feasibility studies are completed, which is expected at the end of this month," said Tamer Wagih, social utilities project manager at the PPP unit of Egypt's ministry of finance.
The project will involve the financing, renovation and furnishing of the existing 230-bed Suez Canal University Specialized Hospital, which was constructed nine years ago. However, the hospital has not been operational to date, due to shortages in funding, explained Wagih.
According to Wagih, studies concerning the hospital project are being undertaken with the support of a participation fund, which was established by the Islamic Development Bank, the World Bank, the International Development Fund and the European Development Fund. The fund seeks to finance all tentative feasibility studies pertaining to the PPP in the Arab world.
The investment costs of the project are expected to exceed EGP 1.5 billion (USD 216 million) due to skyrocketing prices of medical equipment, a ministry of health official said, adding that the hospital will serve five governorates namely North and South Sinai, Port Said, Suez and Ismailia.
© Zawya 2013
