- Siemens’ EUR 30.3mn financing contribution to enable construction and completion of Elazığ Integrated Health Campus by 2018
- First greenfield social infrastructure bond in Turkey
- First project including credit enhancements following COP21 global commitment to support emerging countries
- Public Private Partership (PPP) project forms part of Turkey’s long-term Health Transformation Program
“This is another milestone in enhancing Siemens’ financing capabilities into the growing market of project bonds while also creating opportunities for Siemens to bid for healthcare and building technologies equipment and services”, says Anthony Casciano, CEO of the Industry and Healthcare business unit of Siemens Financial Services. The investment in the project bond was put in place by Siemens Bank and is the fifth hospital project under this program that has closed with Siemens’ support, which shows the Group’s commitment to the transformation process of the healthcare service quality in Turkey.
Siemens Turkey President and CEO Hüseyin Gelis said: “As an industry that has direct impact on human life, healthcare is a priority in development plans of all countries. Launched in 2003, Health Transformation Program founded the basis of the infrastructure improvements much needed in the Turkish healthcare industry. City hospitals built within the scope of the Public Private Partnership model play an important role in achieving the 2023 targets set for our country.”
The Project is located in the east of Turkey, in Elazığ city. It comprises the construction and operation of an integrated health campus with a total capacity of 1,038 beds, comprising a general hospital, women's and children's hospital, psychiatric hospital, mouth and dental health Centre, as well as additional support buildings and facilities, in total 355,752 sqm of healthcare accommodation. Meridiam, Rönesans, Sila and Sam are shareholders of ELZ Saglik Yatirim A.S., the project company formed to implement the Project under a 28 years concession including a 23 month construction period. The contractors have extensive relevant experience in Turkish construction and real estate facilities management and strong expertise in the Turkish healthcare market. The project also benefits from a well-established ongoing relationship with the Turkish Ministry of Health as awarding authority.
The financing model has been certified as “green and social bond” by Virgeo EIRIS, a leading global provider of environmental, social and governance research, indicating the environmental and social benefits of the project.
This press release is available at www.siemens.com/press/PR2016120120FSEN
For further information on Division SFS, please see www.siemens.com/finance
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Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2016, which ended on September 30, 2016, Siemens generated revenue of €79.6 billion and net income of €5.6 billion. At the end of September 2016, the company had around 351,000 employees worldwide. Further information is available on the Internet at www.siemens.com