Digital financial services company, Paytm on May 4 announced that Paytm Foundation will be setting up oxygen plants in 12-13 cities as hospitals across pan-India face oxygen shortage amid the second wave of COVID-19.
The company, in a statement released to the media, said that the oxygen plants would be directly installed at hospitals, which would serve the oxygen needs for the entire hospital. “Paytm Foundation has also sourced over 21,000 oxygen concentrators that would be sent to government hospitals, COVID care facilities, private hospitals, nursing homes as well as resident welfare associations in the mid of May,” the company said.
Oxygen plants are devices that render possible the production of medical oxygen from ambient air while simultaneously supplying the gas to multiple beds. Paytm has raised Rs 10 crore from people across the country under its #OxygenForIndia initiative and has mirrored the donation amount making it a total contribution of Rs 20 crore.
“Paytm is working in conjunction with other prominent organisations including Elevation Capital and the American Indian Foundation. The donation garnered under the initiative will be used to purchase oxygen concentrators and oxygen plants, costing between Rs 50 lakh to Rs 1 crore each,” the statement added.
The digital financial services company further said that it is currently between dialogues with the state governments and hospitals for affirmation and approval to set up these oxygen plants. “Once purchased, the oxygen plants will be provided free of cost to government hospitals by Paytm Foundation,” it said.