PROJECT

Projects

Environmental & Social Review Summary

Project Number

31549

Company Name

APOLLO HOSPITALS ENTERPRISE LIMITED

Date ESRS Disclosed

Mar 15, 2012

Country

India

Region

South Asia

Last Updated Date

Jun 12, 2021

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Apr 27, 2012
Signed : May 14, 2012
Invested : Nov 30, 2012

Sector

Hospitals and Clinics

Industry

Health, Education and Life Sciences

Department

Regional Industry - MAS Asia & Pac

Project Description

The proposed project by AHEL, which is among the largest integrated healthcare groups in India, involves an investment of upto US$394 million over the next four years to add about 2,900 beds to its hospital network and for equipment purchases of its existing hospitals (“Project”). The funds will be used to implement AHEL’s strategy for growth which includes: (i) expansion in existing facilities that are reaching full capacity; (ii) setting up new facilities in larger cities with growing and unmet demand; and (iii) expanding its network of “Reach” hospitals, which include smaller, simpler facilities in less developed population centers.

Overview of IFC's Scope of Review

IFC’s review of this investment consisted of appraising technical, environmental, health and safety (EHS) related information of Apollo Hospitals Enterprise Limited (‘AHEL’ or the ‘Company’) including EHS policies and procedures at group Level, facility management systems, environment, health and safety (EHS) performance and reports of Apollo Reach Hospitals, construction contract documents, site checklists, waste management authorizations and waste and emissions monitoring data for existing hospitals.

The appraisal also included site visits to AHEL’s flagship hospital in Chennai and Apollo Reach Hospital in Karaikudi, and discussions with senior management and the project team in-charge of design and development of Apollo Hospitals.

This is third investment by IFC in AHEL. The Environmental Social Review Summaries (ESRS) for the previous IFC investments are available at:
“Apollo Equity” (Project #24406) disclosed in July 2005, is available at: http://www.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/ERS24406
“Apollo Loan” (Project #25969) disclosed in April 2009, is available at: http://www.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/ESRS25969

This review thus, builds upon the previously disclosed ESRSs and ESAPs, and the information collected during IFC’s engagement with AHEL over the past years.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement