Elazig Health (IFC-38035)

  • Turkey
Where the impacts of the investment may be experienced.
Specific Location
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Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 13, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Education and Health
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 87.64 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 385.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 360
Converted using 2016-11-16 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2017

Disclosed by Bank Dec 13, 2016

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Project Description
This project designs, finances, constructs and provides services to the Elazig Health Campus in Elazig, Turkey. This is one of the Public-Private Partnerships in the Turkish healthcare sector. The Elazig IHC will cover around 23 hectares (ha), including closed car parking area, with a hospital area of 16 ha. There are no residential areas adjacent to the project site. The campus will have a 1,038-bed capacity consisting of 888-bed general hospital, 150-bed high security forensic psychiatric hospital, and 60 unit oral and dental clinic. There will also be health support facilities, a commercial area, a technical unit building, a helipad and a 7.7 ha car parking area. A tri-generation plant, consisting of three natural gas engines, and boiler system will supply energy for the project. The planned construction period is three years, to be followed by an operational period of 25 years. As part of the project, ELZ Saglik will provide support to clinical services including laboratories, imaging, sterilization and disinfection and rehabilitation during the operating period while MoH will provide the core medical services. The project site is a vacant land plot in the Ulukent neighborhood, designated by the Elazig Municipality as a “public area requiring large land use” and has already been allocated to Ministry of Health (MoH). The site was under the ownership of the Turkish Treasury Department except for a small, 250 m2 plot that once included a small military cemetery consisting of eight unmarked graves. The cemetery was under the responsibility of the 8th Army Corps Commandership and the eight graves have recently been transferred to another cemetery in Elazig following the approval of relevant institutions. The plot is being transferred to MoH. IFC’s environmental and social specialists visited the project site on June 1, 2016. The visit included a walk-over of the future project area and meetings with key staff from the contractors and consultants teams, including the construction project manager, and EHS manager. IFC specialists also met with representatives of the project sponsors, the Deputy Director of Provincial Directorate of Health and the manager of one large scale hospital in the city.
Investment Description
  • International Finance Corporation (IFC)
The project is being developed by a special purpose vehicle called ELZ Saglik Yatirim AS, a newly established consortium comprising of Ronesans Holding A.S., Meridiam Infrastructure Eastern Europe SARL, Sam Yapi Sanayi ve Ticaret Sti., and Sila Danismanlik Saglik Bilisim Insaat Ticaret A.S. Ronesans Medikal Insaat A.S. (RMI), a subsidiary of Ronesans Holding, will be responsible for the construction phase. IFC is considering investing up to US$215 million in Ronesans Holding.
Contact Information
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