Summary of Proposed Investment
Project Number
7374
Company Name
THE LANKA HOSPITALS CORPORATION PLC
Date SPI Disclosed
Feb 25, 1998
Country
Sri Lanka
Industry
Health, Education and Life Sciences
Status
Completed
Sector
Hospitals and Clinics
Department
Regional Industry - MAS Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : May 6, 1998
Signed : Jun 20, 2001
Invested : Sep 28, 2001
Project Description
Summary Of Project Information (SPI)
| Project Name | Sri Lanka-Apollo Lanka Hospital |
| Region | Asia |
| Sector |
Projected Board DateMarch 25, 1998
Company NameLanka Hospital Corporation Private Limited
Technical 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 documents | The World Bank - Development Finance Corporation of Ceylon (DFCC) Building, 1st Floor, 73/5 Galle Road, Colombo 3, Sri Lanka |
Date 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) 473-7711
facsimile: (202) 974-4384
Environmental 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).
Sponsor / Cost / Location
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