According to the bank provided information, the project is to expand and operate a hospital facility owned by Clínica Sagrada Esperança, SA (“The Company” or “CSE”) in Luanda, Angola (the “Project’).
The project entails building a hospital according to international standards with an expected capacity of 165 beds, 41,410 m2 of gross floor area, 6 floors and a silos car park with 453 car parking spaces, as well as other supporting facilities (wastewater treatment plant, mechanical/electrical room, heliport, and other small auxiliary facilities). Project construction is expected to start in the second half of 2022 and last 38 months to be completed, at a cost of $108m, to be financed through an equity contribution of up to $40.5m and the remaining amount by IFC & other lenders. The investment Project will strengthen the supporting infrastructure of the hospital (wastewater, power, parking) to allow a better operation of the whole medical complex in line with international standards (“the Project”). Furthermore, the Project will be implemented by a strong operations and management team with a proven track record in managing and growing the business. The project includes the construction of a wastewater treatment plant (WWTP). The plant will manage the residual water generated in the activities of the hospital, as well as, the domestic effluent coming from nearby residential buildings, and as it was arranged with the local government during the initial stages of the project negotiations, action that would improve the water quality of the sea in that area of Luanda.
The total Project cost is estimated to be up to US$108.0 million and IFC proposes an A-Loan investment of up to US$23.5 million. The remaining balance will be provided by the Company shareholders in the form of an equity contribution of up to US$40.5 million and US$44.0 million by parallel lenders.
Founded in 1990, CSE is a leading private healthcare services provider in Angola. It currently operates the largest privately run healthcare facility in Luanda plus a network of 23 smaller healthcare units. Its flagship hospital in Luanda currently has a total of 233 beds and has been a key element of Angola’s government response to COVID 19 pandemic.
The sole shareholder of CSE is Endiama - EP (“Endiama”), an Angolan national diamonds company.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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