Prayagraj to Get 550-Bed Hospital as Park Medi World Wins INR 200 Crore PPP Mandate
Park Medi World has secured a landmark public-private partnership contract from Prayagraj Municipal Corporation to develop and operate a 550-bed multi-super speciality hospital in the city. The Park Group will invest approximately INR 200 Crore in the project, which upon completion will be the largest private healthcare facility in Prayagraj. The hospital site lies directly behind Arail Ghat, placing it within easy reach of one of India's most visited pilgrimage destinations.
🏢 Park Group Wins Prayagraj Hospital Mandate Under PPP Model
Park Medi World has been awarded a mandate under the Public-Private Partnership model by Prayagraj Municipal Corporation, Uttar Pradesh, to develop and operate a 550-bed multi-super speciality hospital in the city. Under the concession, Park Group will construct the facility over a two-year period from the appointed date and then operate it under a long-term lease of 45 years, marking a significant step in the Group's expansion across Uttar Pradesh. The hospital will be developed on a 3.22-acre site allotted by the Municipal Corporation, with an option to secure an additional 2.47 acres from the fifth year following the Commercial Operations Date, providing built-in headroom for future expansion. Park Group will invest approximately INR 200 Crore towards construction of the 550-bed facility, targeted for completion within two years of the appointed date. The site is strategically located directly behind Arail Ghat — a section of which is reserved for VIP darshan — in one of the most densely populated parts of Prayagraj. Arail Ghat lies approximately 3 kilometres from Sangam Ghat by road, or around 0.5 kilometres by boat, placing the facility within close reach of one of the country's most significant pilgrimage destinations. Upon completion, the hospital will be the largest private healthcare facility in Prayagraj. A salient feature of the concession is state government support: INR 76.52 Crore will be reimbursed by the Municipal Corporation towards hospital construction, de-risking approximately 38% of the total capital outlay and reflecting the State's commitment to strengthening healthcare infrastructure in the region. [2]
🏢 Contract Terms and Park Group's Broader Uttar Pradesh Expansion
Park Medi World has secured a public-private partnership contract to develop a 550-bed hospital in Prayagraj, Uttar Pradesh, with a planned investment of around Rs 200 crore. The agreement outlines a two-year construction period, after which Park Medi World will operate the facility under a 45-year lease. Key contract terms include a hospital capacity of 550 beds, a planned investment of approximately Rs 200 crore — of which Rs 76.52 crore represents a state reimbursement — a two-year construction timeline, and a 45-year operation lease duration. The state reimbursement effectively de-risks a significant portion of the capital outlay. The contract positions Park Medi World as both the developer and the long-term operator of the facility, giving the group an extended revenue horizon in one of Uttar Pradesh's major cities. The Prayagraj project adds to the group's existing projects in Agra and Gorakhpur, also within Uttar Pradesh. With this mandate and other planned expansions, the group's total bed capacity is expected to reach approximately 6,300 beds. The Prayagraj hospital mandate marks a continued push to expand quality healthcare infrastructure across the state, targeting densely populated areas with high resident and visiting populations, including pilgrimage travellers drawn to the Sangam region. [9]
Sources: [2] expresshealthcare.in · [9] scanx.trade