Sahyog Foundation, a city-based non-profit organization, would invest Rs 1100 crore in setting up a medicity spread over 300 acres at Jagatpur near Cuttack as well as a medical college and hospital at Keonjhar.
The amount will be raised by the foundation through a mix of debt and contributions from the promoters and Non-Resident Indians (NRIs).
The Keonjhar project which is being taken up on the public private partnership (PPP) mode at an investment of Rs 200 crore will have a medical college with an intake of 50 seats to begin with and a 300-bed hospital.
Debasis Sahoo, director, Sahyog Foundation said, “We will sign the MoU (Memorandum of Understanding) with the Orissa government for setting up the medical college and hospital at Keonjhar by the end of this month. Apart from alloting 20 acres of land free of cost, the state government has also given us an incentive grant of Rs 10 crore for the project.”
Construction work on the proposed medical college and hospital at Keonjhar is set to take off in April this year and the first batch of students for the MBBS course will be admitted in 2011.
“While the hospital at Keonjhar will offer treatment in various super specialties, the focus will be on malaria ad tuberculosis. Seventy per cent of the beds in this hospital will be reserved for the BPL (Below Poverty Line) families.”
To ensure qualitative medical education, Sahyog Foundation will be collaborating with Harvard University for including the university's course curriculum. The partnership is also aimed at student as well as faculty exchange programmes between the two institutions. The medical college and hospital at Keonjhar will offer direct employment opportunities to 3000 people.
For its Rs 900-crore medicity project at Jagatpur, Sahyog Foundation has started the process of land acquisition. The medicity project is expected to be operational by 2014.
Besides a 150-seater medical college and a 700-bed hospital, the medicity will have a homeopathic college, an Ayurvedic college and other public amenities like a shopping mall, gymnasium, swimming pool and food court.
“Like our hospital at Keonjhar, we will also set aside 70 per cent of the beds at the Jagatpur hospital for the BPL families. The BPL families can avail free treatment at our hospitals for expenses up to Rs 30000 per annum:”, Sahoo said.
Apart from generating around 5000 direct jobs, the medicity will also create indirect employment for 150000 people.
