Total Pageviews

Thursday, January 12, 2012

Yash Birla Group to invest Rs13,000 crore in Andhra Pradesh

Marking its foray into the development of sports and wellness related infrastructure development, the Yash Birla group has submitted a proposal to the Andhra Pradesh (AP) government for setting up an international-standard sports city in its Pearl city- Hyderabad.  Group chairman, Yash Birla proposed an investment plan of Rs13,000 crore in his meeting with the Andhra Pradesh chief minister N Kiran Kumar Reddy. This project would be the largest investment made in the state by any conglomerate making it a one-of-a-kind venture.

Yash Birla, chairman, The Yash Birla Group, ”Our investment is part of the group’s plan to develop the sports sector in Andhra Pradesh. This will not only be the single largest investment made by the Yash Birla Group but will also boost sunrise sectors- alternative energy, healthcare and education in the state. Our constant endeavour has been to innovate and deliver the best lifestyle experience to the society.”

The outlay includes investment of Rs 10,000 crore for a polysilicon-plant by power solutions. The company will be producing solar grade polysilicon, silicon wafers, solar photovoltaic cells, solar photovoltaic panels at the plant. The Group has sought 450 acres near the Rajiv Gandhi International Airport at Shamshabad and another 250 acres for a wellness centre. The capital will be generated through private equity dilution, internal accruals and proposed IPO.

A global integrated ayurvedic village by Birla Wellness and Healthcare division will be set up with an investment of Rs1,000 crore. This investment will house an integrated ayurvedic centre promoted by Birla Wellness and Healthcare division, which will provide ayurvedic products and services to offer comprehensive range of both preventive and curative treatments. The total project investment would be Rs 750 crore. The integrated ayurveda complex would generate employment opportunities for 4,500 people.

Birla Edutech is aiming for a sports city with an investment of Rs2000 crore. The sports city will have all kinds of sports infrastructure along with a manufacturing centre and a wellness centre. At the facility, local sporting talent will be developed to match international standards. The sports city aims to be a leading development project with a distinct focus on sport and sporting excellence that will attract local, regional and international participants. The complex will have facilities built to specifications for international sports bodies and will host academies for swimming, track and field, volleyball, tennis, golf, badminton courts among others. The project will include high rise towers, banks, business centres and shopping malls making it completely self- sufficient.

The Yash Birla Group is an Rs30 million conglomerate of over 20 diversified companies which run the gamut from established sectors like auto and engineering, textiles and chemicals, and power and electricals to emerging sectors of today like wellness and lifestyle, education and IT. The group currently has 10 listed entities in India.

No comments:

Post a Comment