Srinivas Institute of Medical Sciences and Research Center has won a bid to develop a new multi-speciality hospital for the New Mangalore Port Authority. The Mangalore-based Srinivas Institute will also operate and maintain the port authority’s existing 32-bed hospital.
As per the bid, Srinivas Institute will operate and maintain the Union Government-owned Port Authority’s existing 32-bed hospital for two years. Furthermore, the institute will set up a 150-bed multi-speciality hospital. This will be developed over an anticipated 3 Acres of land parcel with an estimated cost of INR 107 Crore. The project will be developed in a PPP (Public-Private Partnership) mode with a build, operate, and maintenance period of over 60 years. The project is expected to be completed by September 2026, while Srinivas Institute will generate a revenue share of 3.7%.
Also Read: Redevelopment of MCGM LTMG Hospital, Phase II at Sion, Mumbai
The upcoming multi-speciality hospital will cater to port employees, the Central Industrial Security Force (CISF), retired personnel, and their dependents. Additionally, it will provide healthcare services to non-New Mangalore Port Authority patients from nearby areas. The facility will offer various medical services unavailable in the existing hospital.
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