Al Hammadi commences trial operations at Al Nuzha branch, to pay no dividends for FY16
Al Hammadi Company for Development and Investment (4007.SE) announced commencing trial operations at Al Hammadi Al Nuzha hospital on 13 March 2017, as it had completed the construction work and is currently in the process of sourcing necessary medical professionals and administrative personnel. The company will announce the commencement of commercial operations once it secures the required licences. The project had a total cost of SAR823mn, including the cost of land. The project’s total capacity will include 650 beds, including 75 ICU beds and 320 long-term care and rehabilitation beds, in addition to 64 outpatient clinics. The company’s total capacity upon commencing commercial operations at Al Nuzha would include 1,378 beds and 202 clinics. On another note, the company’s BoD recommended paying no dividends for FY16 to maintain the company’s liquidity in order to sustain Al Hammadi’s current and future operations.
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