Summary of Proposed Investment
Project Number
8776
Company Name
HOSPITAL PRIVADO CENTRO MEDICO DE CORDOBA S.A.
Date SPI Disclosed
Mar 25, 1998
Country
Argentina
Industry
Health, Education and Life Sciences
Status
Active
Sector
Hospitals and Clinics
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Apr 30, 1998
Signed : Aug 31, 1998
Invested : Oct 1, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Argentina-Hospital Privado de Cordoba |
| Region | Latin America and Caribbean |
| Sector |
Projected Board DateApril 30, 1998
Company NameHospital Privado de Cordoba
Technical Partner and/or Major Shareholders
Hospital Privado de Cordoba (HPC) began operations in 1957 in Cordoba, in northern Argentina. It is owned by doctors who work at the Hospital or families of doctors who have retired from the Hospital.
Project Cost Including Proposed IFC Investment
The proposed US$20.2 million project entails several components which are expected to help lower costs, increase revenues and rationalize the current facilities. The main components of the project include constructing a new three story tower, renovating and reorganizing the existing facilities, acquiring additional medical equipment, creating satellite health centers, upgrading the Hospital’s information systems and refinancing short-term debt. IFC is proposing to provide Hospital Privado de Cordoba with a US$9.6 million loan.
Location of Project and Description of Site
The Hospital is located in the City of Cordoba, the capital of the Cordoba Province in Northern Argentina.
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
HPC began operations in 1957. It is a full service hospital which provides a complete range of medical services and operates its own pre-paid health insurance plan (pre-paga). The proposed project has a potentially large developmental impact, as it will be an additional asset for the Cordoba region, increasing its economic competitiveness by making it more attractive for investors and skilled workers. The proposed project is also in line with the Bank Group strategy to support initiatives which fit into the country’s Bank-supported reform agenda which aims to strengthen the role of the private sector in order to foster efficiency through enhanced competition.
Environmental Category and Issues
This is an environmental review category B project; principal issues involve handling and disposal of solid waste including medical material (bio-hazardous waste), liquid wastes treatment, including sewage, power and water supply, air emission from boilers, incinerators and electrical generators, handling and storage of hazardous materials, hygiene and implementation of good hospital management practices, employee health and safety training, and fire protection and safety. The sponsor has presented plans to address these issues and demonstrate that the proposed project will comply with applicable governmental and World Bank requirements: HPC has contracted the services of a company that will collect and dispose of waste. Biological/pathogen waste will be incinerated at the Cordoba Municipal incinerator. The contractor has the appropriate permits to utilize the incinerator. HPC uses the municipal Waste Water Treatment Plan (WWTP) to treat their liquid effluents. Currently the municipal WWTP does not fully comply with World Bank effluent guidelines. The project will either include a Corrective Action Plan to bring the municipal WWTP into compliance, or HPC will construct a dedicated WWTP at the hospital. HPC has existing employee health and safety and hygiene programs. The construction of the new tower and the areas to be modified will be according to NFPA 13 and 101 provisions. Fire protective equipment such as extinguishers will be placed throughout the hospital.
The is from the Public Information Center.
| Host country location of environmental documents | Argentina |
Date SPI sent to InfoShop March 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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