Park Medi World Limited has received a mandate to develop and operate a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh. The company will develop the project through a Public-Private Partnership (PPP) with the Prayagraj Municipal Corporation. The project involves an investment of approximately 200 INR-Crore. The state government will provide 76.52 INR-Crore towards construction costs.
The Prayagraj hospital project will come up on a 3.22 Acres site allotted by the Municipal Corporation. The project also includes an option to secure an additional 2.47 Acres after 5 years from the Commercial Operations Date. Park Group will construct the hospital within 2 years from the appointed date. Following construction, the company will operate the facility under a 45-year lease. The state government’s 76.52 INR-Crore reimbursement will cover around 38% of the capital outlay.
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The project will add 550 beds to Prayagraj’s healthcare infrastructure. Additionally, the long-term concession will support the operation of the facility after construction. The Prayagraj hospital project will also contribute to Park Group’s planned expansion of healthcare capacity in Uttar Pradesh.
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