REPUBLIKA.CO.ID, JAKARTA - Domestic hospital chain, PT Siloam International Hospital allocates 100 million USD per year to build some new hospitals in Indonesia. Subsidiary of PT Lippo Karawaci plans to operate 40 hospitals in 2017.

President Director of Siloam International Hospital, Gershu Paul said his company would build six to eight hospitals in Indonesia by the end of 2014. They are located in Bogor and Bandung (West Java), Padang (West Sumatra) and Semarang (Central Java). Six hospitals will be built each year until 2017.

"We invest about 25 million USD per hospital," Paul said after listed the initial public offering (IPO) in Jakarta on Thursday.

Siloam International Hospital will also build hospitals in eastern Indonesia. Fund for construction is derived from IPO process. Paul said company had enough cash flow to fund construction.