Middle East Healthcare Company’s (Saudi German Hospitals) (4090.SE) Board of Directors (BoD) approved the signing of a ten-year  management supervision agreement for Batterjee Medical City in Alex West, Alexandria, which entails that the hospitals in the medical city will be operated under the Saudi German Hospital Brand upon completion. This project will be established on four phases: i)Phase one:  a 300-bed general hospital at a cost of EGP1.5bn and staff accommodation at an estimated cost of EGP110mn, ii) Phase two: seven sub-specialty hospitals at an estimated total cost of EGP5-6bn and staff accommodation at an estimated cost of EGP20mn for each sub-specialty hospital; iii)Phase three:  Medical Tower with 220 out-patient clinics at an estimated cost of EGP200mn; and iv)Phase four: a medical college at an estimated cost of EGP700mn. The project is expected to enter commercial operations by the end of 2019 with the financial impact expected to appear on MEAHCO’s financial statements by 2020. According to the management supervision agreements, MEAHCO will be paid 10% of Batterjee Medical City net profit before taxes and zakat, which is owned by Bait Al Batterjee Medical Company. MEAHCO also supervises the Saudi German Hospital in Cairo (300 beds, operational since October 2015). (Company Disclosure)