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Korean Companies to Build Hospitals in Iran
Medical Construction
Korean Companies to Build Hospitals in Iran
  • By Jung Suk-yee
  • June 5, 2015, 04:30
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A consortium of Korean organizations including a builder, a medical equipment supplier, and a university hospital is expected to launch a large-scale general hospital construction project in Iran next year.

Samsung, GS, and Daelim Industrial are trying to win the medical industrial complex development project to be led by the Iranian government by making use of export financing provided by domestic financial institutions. The purpose of the project is to build 10 or so general hospitals in Iran, along with a large pharmaceutical industry complex.

Each of the three Korean companies formed a consortium with design, construction, and medical instrument manufacturing companies and submitted a letter of intention to the Iranian government. It is said that the consortia also include university hospitals such as Seoul National University Hospital and Korea University Hospital, as the project covers the establishment of hospital management systems as well.

The project is estimated to cost US$1 billion and Korean financial institutions, including the EximBank of Korea, are expected to provide project financing in view of the size of the fund. The Iranian government is known to have made the same request earlier. The contractor is scheduled to be selected early next year, and the Iranian government is currently going through the letters of intent.