Saudi-based Almoosa Health Company has awarded a major contract worth SAR781.7 million ($207 million) to BEC Arabia for the execution of mechanical and electrical works for the Almoosa Specialist Hospital project coming up in Al Khobar, in the kingdom's Eastern Province.

The scope of work includes the execution of mechanical and electrical works for the Almoosa Specialised Hospital Project in accordance with the approved engineering drawings and technical specifications, said Almoosa Health Company in its filing to Saudi bourse Tadawul.

Work is set to start soon on the project and is likely to be completed within two year, it stated.

Almoosa Health Company pointed out that there are no related parties involved in the deal and it will be funding the project through its own resources and long-term shariah-compliant bank loans.

The relevant financial impact will likely appear upon completion of the building and commencement of hospital operations, it added.-TradeArabia News Service