Mouwasat Medical Services Co. signed on Thursday a contract worth SAR 150 million with Project Build Co. Ltd. (PBC) to expand the Mouwasat Hospital in Dammam, the company said in a statement to Tadawul.

 

Construction works should span over a period of 26 months.

 

Trial operations are expected to start in Q2 2020 for three months, while commercial operations will commence after obtaining the required approval from the Ministry of Health.

 

Mouwasat said it expects the financial impact of the project to show in Q4 2017 results.

 

No related parties are involved in this project, the statement added.

 

Mouwasat signed a memorandum of understanding in July for the deal with PBC, Argaam previously reported. 

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