An agreement has been signed to invest AED6.6 billion ($1.8 billion) into an advanced cancer treatment facility in the UAE.
The agreement has been signed to establish a joint venture between Royal Strategic Partners (RSP) in Abu Dhabi with Dubai-based MIG Group and the Austrian Star Energy (SE) company to build a neutron therapy hospital in addition to a medical university and a convention centre.
MIG Group chairman Mahmood Al Redha said the project will become the main hub for research and development of the latest technologies to treat advanced cancer in the GCC region.
Al Redha added: “We are planning to implement the construction of the entire advanced cancer treatment centre project, which will be considered a large domestic scientific research centre.”
The first phase is the implementation of a pilot project in Abu Dhabi for the hospital, the medical university and the convention centre while the second phase will see the expansion of the project to identify alternative power sources.
Neutron capture therapy is a radio-therapeutic modality for treating locally invasive malignant tumours such as primary brain tumours, recurrent cancers of the head and neck region and cutaneous and extracutaneous melanomas.
Dr Hamad Al Ali, CEO of RSP, said: “The initial investment of AED6.6 billion fits perfectly with the strategy and vision to create and develop leading technology products and build a sustainable energy ecosystem, adding: “We envision that our experience will help to make a positive technological revolution within the UAE and the GCC region.”
Joseph Lokumovićh, CEO of Star Energy, said: “The partnership with the UAE government brings unique value and capabilities, and will contribute to accelerating the development and growth of the energy and medical sector in the UAE and the entire GCC region, and establish a substantial presence on the global markets.
“We believe that we can be the catalyst for the growth of the entire sector, and investors will have a unique opportunity to participate in the construction and operation of the neutron therapy hospital and the medical university project.”
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