A joint venture between Omani and Spanish firms plans to set up a 70-bed, high-end, super-speciality hospital in Oman, with an investment of $62.33 million, it has been announced.

A report in the Oman Daily Observer said that Oman and Emirates Investment Holding Company (O&E), a Muscat-based listed company, is the local company involved with the project.

“O&E is promoting this project jointly with Spanish partners and has agreed to invest $4.79 million and take up a 15% equity stake in the company,” Awad Mohammed Faraj Bamkhalef, chief executive officer, was quoted as saying in the report.

The provisional plans for the hospital project include a 70-bed facility, which can be further expanded to 100-beds. It will offer state-of-the-art medical facilities, the report added.

It added that the proposed share capital has been fully booked by a number of institutional investors in Oman, and also by the Spanish partner, who will invest 15%, Bamkhalef added.