Bangladesh-STS Holdings Limited Project.
Project number : 31841
Region : South Asia
Company name : STS Holdings
Country : Bangladesh
Sector : S- - Hospitals and Clinics
Department : Reg Manufact, Agri & Services, ASIA
Environmental category : B
Status : Pend PDS-IR
Date SPI disclosed : May 30, 2013
Projected board date : July 30, 2013
Last Updated Date : May 30, 2013
Summary of Investment Information :
This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC s activities. For any project documentation or data included or attached herein that has been prepared by the project sponsor, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
It is distributed in advance of IFC Board of Directors consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors decision.
Project Description : STS Holdings Limited ( STSH or the Company ), which currently owns and operates a 450-bed hospital in Dhaka, is to build and operate a 350-bed tertiary hospital in Chittagong, Bangladesh, which will provide primary, secondary and tertiary health care services (the Project ).
Project Sponsor and Major Shareholders of Project Company :
The Project sponsors are Bob Kundanmal (owns 23.7% of STSH directly and indirectly), Khondokar Monir Uddin (owns 23.7% of STSH directly and indirectly), Tipu Munshi (owns 7.3% of STSH indirectly), Mohammad A. Moyeen (owns 5.5% of STSH directly), Khondokar Jamil Uddin (owns 2.9% of STSH), Mahabul Anam (owns 5.5% of STSH directly) and Mr. Deepak Bhojwani (owns 7.25% of STSH indirectly). Aureos South Asia Fund LLC owns 9.9% shares of the Company.
Total Project Cost and Amount and Nature of IFC%s Investment
Total Project cost for implementing up to 243-bed facility is estimated to be US$61.8 million and IFC will provide an A loan of up to US$17.5 million and a parallel loan of up to US$17.5 million.
Location of Project and Description of Site
The Project site is in the Ananya Residential Area (plot number H01), a recently developed residential area around 9 kilometers from the center of Chittagong, Bangladesh. STSH s head office is located in House # 8A, Road # 143, Gulshan 1, Dhaka-1212, Bangladesh.
Expected Development Impact
1) The project will increase access to high quality medical care in Bangladesh and improve the quality of diagnostic services available outside Dhaka. It will also provide services to second tier cities that are close to Chittagong.
2) The group has achieved JCI status with its hospital in Dhaka. This project is expected to have the demonstration effect o
country :United States
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