Guwahati, March 10: ONGC today signed an MoU with an Aurangabad-based NGO, Dr Babasaheb Ambedkar Vaidyakiya Pratishthan (DBAVP), to set up a 300-bed multi-speciality hospital in Upper Assam's Sivasagar district.

The NGO, which works in the health sector and runs Dr Hedgewar Hospital in Maharashtra's Aurangabad, will be given Rs 313 crore to build the hospital over a 5-acre land at Rajabari in Sivasagar in three phases.

"The basic infrastructure of the hospital to accommodate 100 beds is expected to be completed in two years. A sum of Rs 99.07 crore has been earmarked for completion of the first phase," N. Parthivannan, chief of corporate social responsibility for ONGC, said here today.

The oil major today handed a cheque for Rs 14.9 crore to the NGO to start work on the hospital.

According to the detailed project report for the hospital, it will start medical facilities such as internal medicine, paediatrics, general surgery, ENT, orthopaedics, gynaecology, pulmonary medicine and ophthalmology.

A sum of Rs 96.05 crore has been earmarked for the second phase which is expected to be completed by 2021 and Rs 117.22 crore for the third phase that is supposed to be completed by 2023.

"The purpose of setting up this hospital is to provide quality healthcare facilities at a subsidised rate. The hospital will provide medical facilities at 70 per cent lower than the market rate and 33 per cent of the beds will be kept reserved for the economically weaker section of people. Whatever profit the hospital will earn will be ploughed back and invested within the hospital," D.D. Misra, director of human resource in ONGC, said.

"Establishing a hospital in Sivasagar will help take the load off from Dibrugarh-based Assam Medical College and Tezpur Medical College - the only two government medical facilities in Upper Assam, which at present are overcrowded. Our hospital, hopefully, will also cater to patients from neighbouring Nagaland," D.D. Anil Bhalerao, chairman of DBAVP, said here this afternoon.