Mouwasat Medical Services Company has signed on Monday a memorandum of understanding with Project Build Company (PBC) to build Al-Khobar Hospital at SAR 243.5 million.
The MoU is valid one month from the signing date, during which a contract for construction work should be sealed, the company said in a filing to Tadawul.
Al-Mouwasat, which operates hospitals and medical centers, added that the construction period is projected to last 32 months starting May 2.
In 2012, Argaam reported that Al-Mouwasat bought a plot of land in Al-Khobar with a total area of 53,000 square meters at SAR 65 million to build a hospital that accommodates 220 beds.
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