Al Moosa Health Company has signed a 656 million Saudi riyal ($175 million) contract with BEC Arabia to carry out the preliminary construction work for the Al Moosa Specialist Hospital project in Al Khobar.

The work scope also includes foundation work and construction of the concrete structure, the company said in a statement to the Saudi stock exchange.

The 24-month contract execution will commence immediately, in line with the approved project schedule and overall implementation plan.

Excavation and site leveling works have been completed, the statement said, adding Al Moosa Health aims to finance the project through long-term Shariah-compliant bank loans.

The  Almoosa Specialist Hospital, designed by Perkins & Will, will have a capacity of 400 beds, including 300 clinics and one pharmacy.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.