Livemint: May 04, 2016
Hyderabad: BRS Ventures & Holdings Ltd, owned by billionaire B.R. Shetty, will invest $1.8 billion in Andhra Pradesh in projects in healthcare, tourism, hospitality, infrastructure and education.
The investments are predominantly focused on Amaravati, the state’s new capital coming up on the banks of the river Krishna.
Abu Dhabi-based Shetty, who runs NMC Health Plc., the largest private healthcare provider in the United Arab Emirates according to Forbes, will invest in 3,500 bed hospital infrastructure in the state.
BRS Ventures will set up a 1,500-bed hospital in Amaravati and a 300-bed hospital in Kurnool district by December 2018. In addition to these, hospitals totaling capacity of 1,700 beds, will be set up in different parts of the State in second and third phases.
The so-called super specialty hospital in Amaravati will include “elements of medical tourism with a vision of transforming Amaravati into a health care hub,” according to a statement issued by Andhra Pradesh Economic Development Board on Tuesday.
BRS Ventures signed an in-principle agreement with the Andhra Pradesh government on Monday to complete a host of projects by December 2018.
It will set up a medical analytics centre and a medical knowledge process outsourcing (KPO) centre in Amaravati. The analytics centre will focus on medical research enhancement and the medical KPO will provide information to medical institutions and corporations across the globe.
A sustainable smart housing infrastructure will be completed before December 2018 in Amaravati. Shetty, who runs Neopharma LLC in Abu Dhabi, will also start a pharmaceutical unit in the state, the AP government said, without specifying a location.
The company will also complete a five-star golf resort in two phases in Amaravati.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.