Italian construction firm Astaldi withdraws from Türkiye’s largest hospital

Italian construction giant Astaldi is reportedly in talks to transfer its entire 51% stake in Türkiye’s largest healthcare complex, Ankara Etlik City Hospital, which was built through an Italian-Turkish partnership.

According to the business-focused dunya.com, Astaldi has entered negotiations with its Turkish partner Turkerler Holding, which owns the remaining 49% of the project. If an agreement is reached, the landmark healthcare project will come under full Turkish ownership.

Planned in 2011, the Ankara Etlik City Hospital was designed to span 1.4 million square meters, with 1.1 million square meters of enclosed space and nine specialty hospitals. Initially, Astaldi held 51% of the project, while Turkerler Holding secured the remaining 49%.

The hospital, which cost €1.1 billion ($1.17 billion), opened in 2022 with a total capacity of over 4,000 beds.

Founded in 1929, Astaldi is one of the major Italian construction companies, which has faced financial difficulties in recent years, as it filed for bankruptcy in 2018.

In 2019, the company applied to sell its stakes in the Yavuz Sultan Selim Bridge—one of the largest projects in Turkish history—to its consortium partner IC Ictas, citing financial distress.

In 2020, another Italian firm, Webuild, acquired a 65% stake in Astaldi for $462 million.