Expression of Interest for Construction of an Hospital Project in Gambia
Vancouver, BC, Canada – May 19th, 2021 – Minaean SP Construction Corp. (TSX Venture Exchange: MSP; Berlin and Frankfurt Stock Exchanges: NJA) (the “Company”) is pleased to announce that it has submitted an Expression of Interest for CONSTRUCTION OF A TEACHING HOSPITAL” in Gambia, Africa.
The Project, involving design, finance and construction of a 200 bed tertiary hospital with teaching facilities, is being considered for construction in Banjul, the capital city of Gambia. The Expression of Interest (EOI) has been submitted as per the request made by the Ministry of Health, Government of Gambia, to the business development team of the Company. Through the EOI the Company has requested from the Ministry of Health details about the finalized specifications of the Project – the response to which is awaited. Upon receipt of the details, the Company will prepare a preliminary proposal and negotiate with the Ministry of Health for signing of a Memorandum of Understanding. Based on the current indication and estimation the budgeted construction cost is expected to be US$ 80 million.
The population in Gambia is rapidly expanding and urbanizing which requires strengthening of the healthcare system, which is largely dominated by the public sector to assure adequate levels of service are provided. The country’s health system attracts a significant demand from neighboring countries, which adds additional stress on the healthcare system. The government of Gambia’s strategy is to provide universal healthcare access to all citizens and health is a priority area as per the ambitious national development plan.
At the Tertiary Level, it is reported that the government owns and operates 11 hospitals which include 2 teaching hospitals. The government’s plans are to double
this number to cater to the critical healthcare needs of its people and also offer to the neighbouring countries medical tourism which seems to be a growing industry.
As per last reports published, the maternal mortality ratio remains unacceptably high at 433 per 100,000 live births (GDHS 2013), which exceeds the 2015 Millennium Development Goals target (263 per 100, 000) and it continues to be a major challenge for health service delivery. The neonatal mortality rate is presently at 22 deaths per 1,000 live births and the perinatal mortality rate is 30 deaths per 1,000 pregnancies (GDHS 2013).
The major causes of neonatal deaths are birth asphyxia and prematurity and the leading causes of inpatient deaths in children are pneumonia and malnutrition. In adults, the leading causes of inpatient deaths are maternal deaths, pneumonia, cerebrovascular accidents, trauma (especially road traffic injuries), hypertension, anemia, diabetes, heart failure and cancer, whilst cardiovascular diseases including hypertension, diabetes, cancers and trauma are the common diseases in adults (2015 HMIS Service statistics).
About the Company
Minaean SP Construction Corp. is a company well known for its pioneering efforts in the manufacture of light gauge steel components for the construction industry and modular metal buildings in India. Upon partnering with India’s well known 156 year old construction conglomerate “Shapoorji Pallonji Group” (SP) in 2016 as an affiliated subsidiary, the Company changed its business model to take advantage of its $7 billion revenue partner’s expertise and track record in Construction and Infrastructure projects globally. The Company through its business relation established with the Government of Canada’s trade offices has been developing contracts in Africa and Latin America and is focusing more towards construction of hospitals in these countries.
SP is known for its expertise in construction of hospitals with 45 such projects completed with a total capacity exceeding 19,000 beds. The Company establishes its ability to execute these contracts in partnership with SP and is confident of being a front runner in this industry by the end of this decade.
The shares of Minaean SP Construction Corp. (parent company) are publicly traded on the TSX Venture Exchange under the symbol “MSP” and on the Berlin and Frankfurt Stock Exchanges under the symbol “NJA”. For more information, please visit www.minaean.com.
On behalf of the Board of Directors
MINAEAN SP CONSTRUCTION CORP.
President & Director
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