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05 January 2016

Mott MacDonald advises on Etlik Integrated Healthcare Campus, Turkey

The €1.1 billion Etlik Integrated Healthcare Campus public-private partnership (PPP) project in Ankara, Turkey, has successfully reached financial close. Mott MacDonald is lenders’ technical and environmental advisor for the development and will now provide construction and operational monitoring services.

Etlik will be one of the world’s largest hospital campuses once constructed, providing 3,577 beds across more than 1 million sq m. The complex, which will be made up of a main core structure and six towers, will consist of a general hospital and specialist units for cardiovascular surgery, orthopaedics and neurological sciences, paediatrics, women’s health and gynaecology, oncology, physical treatment and rehabilitation and high-security forensic psychiatry, as well as a dedicated area for diagnosis and treatment.

Mott MacDonald’s due diligence during the project’s financing stage included reviewing potential technical issues and commercial implications arising from the project agreement and schedules. The consultancy also appraised the stakeholders’ competence, track record and capabilities, as well as the design solution, construction planning, planned service delivery, capital and operating expenditure, lifecycle costing and the project’s payment mechanism.

Burak Sencer, Mott MacDonald’s country manager for Turkey, said: “Etlik is the sixth health campus PPP project that we have been involved in to reach financial close. Mott MacDonald is technical advisor on nine projects in the overall programme, which reaffirms our position as the pre-eminent lenders' technical advisor in global PPP markets.”

Keith Mitchell, Mott MacDonald’s project director, added: “The sheer scale of this project and tight deadlines to deliver the financing and achieve financial close was a test of our due diligence expertise. However we overcame these challenges through excellent collaboration between our PPP transaction advisory experts in the UK and Turkey, who will now go on to lead our construction monitoring activities.”

Construction of the Etlik Integrated Healthcare Campus is expected to take up to three and a half years, which will be followed by a 24-year operating term.

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