TEHRAN (Tasnim) – British-based healthcare operator International Hospital Group (IHG) will invest 1.8 billion euro ($1.9 billion) in hospital developments across Iran, the country’s ambassador to Britain announced.
In a post on social media, Hamid Baeedinejad said Iran’s Ministry of Health and Medical Education signed the memorandum of understanding with International Hospital Group (IHG) on Sunday following months of negotiation.
The agreement will see IHG invest in and build modern cancer treatment centers across the country in three phases, he added.
The two sides are expected to finalize the details of the MoU at their next round of talks, the Iranian diplomat said.
According to the terms of the agreement, the Iranian health ministry and IHG will also cooperate to exchange information, data and the latest findings in the field of cancer treatment and train manpower.
It will be one of the major foreign investments in Iran since the coming into force of the Joint Comprehensive Plan of Action (JCPOA).
Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany reached the deal on Tehran’s peaceful nuclear program in July 2015.
The deal took effect in January 2016, terminating all nuclear-related sanctions on Iran.