Middle East Healthcare Company “MEAHCO” (4009.SE), owner and operator of Saudi German Hospitals (SGH) franchise, awarded the construction (including medical equipment and furniture) of SGH Dammam to International Hospital Construction Company for SAR336mn, which is scheduled to commence right away and is expected to be completed in June 2019. The project will be mostly financed through Islamic facilities from a local bank at SAR300mn, while the remaining will be financed internally. International Hospital Construction Company is a related party as three partners of the company, namely Sobhi A Batterjee, Khalid A Batterjee and Sultan Sobhi Batterjee are BoD members in MEAHCO, and members of the family owning the majority stake in MEAHCO. (Tadawul)