End of Sao Mai Corporation’s International Hospital Project

The international hospital project, owned by Sao Mai Group Joint Stock Company, has been terminated after several years of existence only on paper.

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The People’s Committee of Trieu Son district (Thanh Hoa) has announced that they have received a document terminating the International Sao Mai Hospital Project (Xuan Thinh commune, Tho Dan, Trieu Son district), which is invested by Sao Mai Group Joint Stock Company (Sao Mai Group).

After terminating the project, the functional agencies will call on other investors to invest. In case there are no investors who have the need to build a hospital, the district will propose to adjust the planning to change the purpose and avoid land wastage.

The international hospital project has been an empty land for many years

According to the research, in 2017, the Thanh Hoa Provincial People’s Committee approved the investment policy for the International Sao Mai Hospital Project, with a total investment capital of about VND 700 billion from its own sources and other legal mobilized capital sources.
The project uses an area of ​​about 3.44 hectares, 18 stories high (with a construction area of ​​about 5000 m2), including main items such as: Main hospital lobby (400 m2); outpatient examination and treatment block (1,700 m2); inpatient treatment block (27,000 m2); professional technical block (200 m2); management and administrative block (1,100 m2); service and technical support block (1,500 m2), and other technical infrastructure and auxiliary works. Design capacity of 500 hospital beds.
The project is divided into 2 phases: Phase 1 (construction of a hospital with a scale of 300 hospital beds): started construction in Q1 / 2018; completed and put into operation in Q4 / 2021. Phase 2 (Construction of a hospital with a scale of 200 hospital beds): started construction in Q4 / 2021; completed and put into operation in Q4 / 2024.
On January 24, 2019, the Thanh Hoa Provincial People’s Committee decided to allow the first adjustment to the investment policy for the Sao Mai International Hospital Project. In this adjustment, the project scale increased to 19 floors with a construction area of ​​8,962 m2, about 450 hospital beds. The initial total investment capital increased from about VND 700 billion to about VND 1,280 billion.
In addition, the project schedule is also adjusted. Phase 1 (construction of a hospital with a scale of 300 hospital beds), started construction in Q1 / 2019; complete and put into operation in Q4 / 2021. Phase 2 (Construction of a hospital with a scale of 150 hospital beds), started construction in Q4 / 2021, completed and put into operation in Q4 / 2024. Other contents remain the same as the initial approved decision.
According to the decision of Thanh Hoa province at this time, Sao Mai Group is responsible for completing investment documents, procedures for investment, construction, environmental protection, and land use according to regulations. Within 180 days from the signing date, if the procedures for investment, construction, environmental protection, and land use are not completed according to regulations, Decision 1375 and the first adjustment decision will no longer have legal value, Sao Mai Group will not be compensated, supported any invested capital, and project-related expenses. Up to now, this billion dollar hospital project is still just an empty piece of land.
Sao Mai Group has its headquarters in An Giang province, with General Director being Mr. Le Thanh Thuan. In Thanh Hoa province, this unit is implementing many large projects related to tourism and real estate in Tho Xuan and Trieu Son districts.

Luong Dien