Riyadh – Mubasher: Mouwasat Medical Services Company on Thursday signed an SAR 150 million agreement with Project Build Co. Ltd. (PBC) to expand a hospital in Dammam.

The project's expansion will be implemented on a 26-month period, starting from the signing date, according to a statement to the Saudi Stock Exchange (Tadawul).

Saudi-based Mouwasat forecasted that it will start experimental operation during the second quarter of 2020 for a period of three months, whereas commercial operation is expected to begin after obtaining the necessary approvals from the Saudi Ministry of Health.

The financial impact of the deal will appear in the medical services firm's statements for the fourth quarter for 2017, after raising the item of non-tradable assets.

Mouwasat’s stock decreased 0.92%, closing at SAR 162 on Thursday.