Summary of Proposed Investment
Project Number
9542
Company Name
Red Sanitaria Hospiten
Date SPI Disclosed
May 28, 1999
Country
Dominican Republic
Industry
Health, Education and Life Sciences
Status
Completed
Sector
Hospitals and Clinics
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jul 16, 1999
Signed : Apr 7, 2000
Invested : Jul 20, 2000
Project Description
Summary Of Project Information (SPI)
| Project Name: | Red Sanitaria Hospiten |
Region:Latin America And Caribbean
Sector:
Project No:009542
Projected Board Date:June 29, 1999
Company Name:Red Sanitaria Hospiten
Technical Partner and/or Major Shareholders
The project is sponsored by a healthcare network Red Sanitaria Hospiten based in Tenerife Island, Spain, owned by Dr. Pedro Luis Cobiella and his family. The network currently includes four hospitals and one outpatient center on the island of Tenerife with a total of 499 beds and 800 employees. A fifth hospital on the island of Lanzarote is expected to open this calendar year.
Project Cost Including proposed IFC investment
Total project cost is estimated at US$ 44 million. IFC''s proposed investment is expected to be in the form of an A loan of up to US$11 million and a B loan of up to US$11 million.
Location of project and Description of site
The project will be located in four important tourist areas in the Dominican Republic. The first hospital which is expected to open at the end of this year is strategically located in Bavaro/Punta Cana and the second and third hospitals are expected to be in Puerto Plata and La Romana. The fourth hospital is expected to be located either in the capital city Santo Domingo or in Santiago, the country''s second largest city.
The hospital at Bávaro is located strategically at the intersection of the main highway connecting Punta Cana to Bávaro and is located 4 kms from the Punta Cana airport and 34 kms from the town of Higüey. The location of the hospital gives it access not only to the main resort area of Bávaro where all the major hotel chains are located but also to the newer developments in Punta Cana. The hospital is located on an area of 25000 m2 and the sponsors have recently concluded negotiations to increase the area by an additional 7,742 m2.
Description of Company and Purpose of Project
The project provides for the construction of four hospitals in important development poles of the Dominican Republic. The four 130-bed hospitals will be built in a phased manner, over a three year period, at an estimated total cost of US$44 million. As part of the first hospital, the Company also plans to construct and operate a small nursing school to ensure a steady supply of qualified, trained nurses to staff its hospital facilities.
The construction of the hospitals will serve both the large tourism market, which generates significant foreign exchange for the country and the local population, in particular those employed in the tourism industry.
Environmental Category and Issues
This is a category B project according to IFC''s environmental and social review procedure. Environmental and social issues associated with this project include: site selection and site environmental and social (including land ownership and land use) conditions, liquid waste treatment and disposal, handling and disposal of medical materials including bio-hazardous waste, solid waste treatment and disposal, CFCs, power and water supply, hygiene and implementation of good hospital management practices, employee health and safety training, and fire protection. The project property site was acquired on a willing seller-willing buyer basis from a private owner. Liquid waste will be treated by a pre-packaged waste water treatment plant which will be completely underground and will utilize a total oxidation process. Solid waste will be collected and disposed of at a sanitary landfill. Hospiten will either use a private contractor or a municipal incinerator for the treatment and disposal of biological and infectious waste. In the event that the private contractor of the municipal incinerator is not in compliance with IFC environmental guidelines, Hospiten is committed to install an on-site incinerator. Hospiten will meet international standards for hygienic practices throughout the facility. The building will be sprinkled, and equipped with an electronic smoke detection system, a fire hosereel system and a standby water supply system of sufficient size capacity for fire fighting.
The is from the InfoShop.
| Date SPI sent to InfoShop: | May 28, 1999 |
“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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