5/15/2009

Turkish JV to build five hospitals in Iraq

AA - Universal-Acarsan, a Turkish joint venture between Universal Hospitals Group and Acarsan, will build five hospitals in different parts of Iraq, the company said in a statement on Thursday. Universal-Acarsan said it signed a deal with the Iraqi Health Ministry in December and will begin work on the first hospital in Karbala on Friday. The Iraqi Health Minister Salih al-Hasnawi will participate in the groundbreaking ceremony, the company said. Hospitals will be built in the Iraqi provinces of Karbala, Basra, Hillah, Missan and Theyqar-Al Nasriya, with a capacity of 400 beds each. Universal-Acarsan said the hospitals will be constructed at a total investment cost of around USD 750 million, while the company plans to complete the project in two years.