Narayana Health scraps 1000 bed cardiac hospital project in Odisha

Thursday, April 6, 2017

Bhubaneswar: In a letter to the National Stock Exchange of India (NSE), Narayana Hrudayalaya on Wednesday announced to ‘discontinue’ its 1000-bed cardiac hospital project in the city.

Narayana Hrudayalaya was allotted a land measuring 5937 acres on 90 years lease in Dumuduma, Bhubaneswar by the Odisha government in 2009 for setting up a hospital.

“But in 2012, a multi-speciality hospital by another promoter was commissioned in close vicinity to the allotted land, which adversely impacted the project’s financial viability,” reads the Narayana Hrudayalaya’s letter to the NSE.

“Taking this into consideration, the company has decided to discontinue the project and thus surrender the above said land to the state government, subject to the refund of the consideration paid for the lease of the land,” the letter adds.

Additional health secretary Surjit Dash has described this as a “plea to close the project.” As per the lease, the hospital was supposed to complete the construction within three years but Narayana Hrudayalaya “sat over the project for more than eight years” since it was allotted the land in 2009, Das told ToI.

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