Apollo Sri Lanka Hospital

completed

Summary Of Project Information (SPI)Project NameSri Lanka-Apollo Lanka Hospital     RegionAsiaSectorProject No007374Projected Board DateMarch 25, 1998Company NameLanka Hospital Corporation Private LimitedTechnical Partner and/or Major Shareholders The Project sponsor is the Apollo Hospital Group of India. The Group’s consultancy and hospital management company, Indian Hospitals Corporation Limited will help design and manage the Project.Project Cost Including Proposed IFC Investment The Project cost is estimated at US$32 million. IFC is considering the provision of a loan of up to US$5 million, and subject to ongoing evaluation, about US$1 million in equity/quasi-equity.Location of Project and Description of Site The project site is a seven acre plot in Narahenpita in Colombo.Description of Company and Purpose of Project(include IFC’s Role and Development Impact) The Project is to establish a 350-bed modern private hospital in Colombo, which will serve both as a general hospital as well as offering tertiary acute-care services in disciplines such as cardiology, cardiothoracic surgery, neurology and neurosurgery, renal care, nephrology and urology, obstretrics and gynecology, general and minimal invasive surgery and internal medicine. The project will address strong local demand for quality medical care in Colombo and will be a major referral center for the entire community. The project is among the first instances of private direct foreign investment in Sri Lanka’s hospital sector.Environmental Category and Issues This is a Category B project according to IFC’s environmental review procedure. Environmental, health and safety issues which were reviewed for this project include: sewage and other effluent discharges; medical (and other) waste management, including handling, storage, disposal; hazardous materials handling and storage; fire protection and emergency reponse; and hygiene, management practices, and employee health and safety. All medical wastes will be properly segregated and appropriately treated before disposal. Reasonable and adequate fire protection and life safety measures will be incorporated. The Sponsors will build and operate this project in compliance with all Government and local regulations, as well as applicable World Bank policies and guidelines.The is from the Public Information Center.Host country location of environmental documentsThe World Bank - Development Finance Corporation of Ceylon (DFCC) Building, 1st Floor, 73/5 Galle Road, Colombo 3, Sri LankaDate SPI sent to InfoShop      February 25, 1998“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).