The Prime Bank Foundation, a non-profit philanthropic initiative of Prime Bank Limited, is set to build an international standard 500-bed hospital at a cost Tk 700 crore in Dhaka Ashulia.

Prime Bank Foundation Chairman Azam J Chowdhury told journalists yesterday, following the signing a memorandum of understanding with Ehsan Khan Architects Limited for setting up a state-of-the-art medical facility.

The facility includes a 500-bed hospital with world-class services for primary and tertiary care, a residential compound, and education facilities for the future doctors and nurses.

London-based International Hospitals Group (IHG) conducted the feasibility study for the project, which is expected to be financed by international financiers, according to the organisers.

At the event, Tanjil Chowdhury, chairman of Prime Bank, and Ehsan Khan, managing director of EK Architects Ltd, were present among others.

This 500-bed hospital will be built on 17 acres of land, while 16 bigha will be used for dormitories and other facilities, he said.