Riyadh - Mubasher: Mouwasat Medical Services Company on Tuesday announced that it has signed a SAR 205 million deal with Project Build General Contracting Company Limited (PBC) to build its new branch in Madinah.

The construction of Madinah’s branch will last for 32 months, starting from 1 January 2018, according to a filling to the Saudi Stock Exchange (Tadawul).

In January 2017, the board of the Saudi-based healthcare provider approved Madinah’s project with a total cost of SAR 400 million.

The three-month trial operation of the new branch is expected to be in the fourth quarter of 2020, while the commercial operation will be conducted after obtaining the health ministry’s approval, the company said.

The financial impact of this branch will appear in the first quarter 2018 financial results, Mouwasat Medical Services concluded.