Comments
A whopping Rs 12,750 crore investment into three large projects around Hyderabad has been proposed by the Yash Birla Group.
An international sports city, an ayurvedic village and a poly silicon manufacturing plant will consume this huge investment. Mr Yash Birla, Group Chairman, signed three expressions of interest with the Andhra Pradesh Government here today.
The Yash Birla Group has sought 1,250 acres of land, mostly around Hyderabad, for setting up these projects. “The Chief Minister, Mr N. Kiran Kumar Reddy, responded favourably to our proposals during the meeting”, said Mr P.V.R. Murthy, Group Finance Director.
The biggest among the three proposals is the poly silicon plant that is expected to see Rs 10,000 crore funding. Yash Birla Group has lease on Silica mines near Kurnool. “We plan to set up the plant to make materials for cells and photovoltaic modules. It will need 600 acres and located about 100 km from the mines”, Mr Murthy told Business Line.
Sports city
The Group has sought 450 acres of land for the international sports city. It will require Rs 2,000 crore investment. Sports infrastructure, wellness centres, training, education centres will be part of it.
The third initiative is an Ayurvedic village. It will entail an investment of Rs 750 crore. Manufacturing ayurvedic products, growing medicinal plants and setting up a hospital will call for about 200 acres. The Birla Research and Life Sciences in Mumbai does work on ayurveda, he added.
Funding pattern
All the projects will be on a debt-equity structure. Funds will be raised from banks, private equity etc., Mr Murthy added. At present, the Yash Birla Group has a minimal presence in the State with few schools and a silica mine.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.