The Yash Birla group has signed an agreement with the Andhra Pradesh government for investing about Rs13,000 crore in three projects ranging from education to healthcare.
The Yash Birla group has signed an agreement with the Andhra Pradesh government for investing about Rs13,000 crore in three projects ranging from education to healthcare.
Under the deal inked at the ongoing Partnership Summit 2012 in Hyderabad, the group plans to set up a sports university in the state and an Ayurvedic village near Hyderabad.
It will also invest in polysilicon mining in the state as backward integration to its existing solar modules project.
Birla Edutech, a group company, would set up a sports university in about 450 acre to be allotted by the state government at an outlay of Rs2,000 crore.
“We are looking for land within 100 km radius of Hyderabad. All sporting and education facilities would be brought under one roof. Sport companies like Nike, Reebok, etc would also be roped in as partners in running the university,” Yash Birla, the group chairman, said.
The MoU also provides for setting up of an Ayurvedic village with an outlay of Rs700 crore. Even for this, the group is seeking land within the 100 km radius of Hyderabad. “This project would be part of Birla Wellness, a listed company. This project would entail manufacturing of Ayurvedic formulations, hospital, treatment facility and R&D laboratories,” he said.
The Ayurvedic village would facilitate retail services also. Experts from Kerala, who are engaged with Birla Wellness, would be partners in the venture.
The group has a presence in Ayurvedic treatment through its arm Birla Kerala Vaidyashala.
The Yash Birla Group in December 2008 acquired a majority stake in Kerala Vaidyashala through a joint venture. Birla Kerala Vaidyashala has 29 therapy centres which are a combination of resorts, clinics and franchisee treatment centres across India in Kolkata, Shirdi, Mumbai, Nashik, Karad, Shirdi, Puducherry, Chennai, Bangalore, Aluva, Ernakulam, Haripad, Alapuzha, Vadagara and Tirupur. The centres offer Ayurvedic therapies from the sacred ancient texts.
The group has also signed for Rs10,300 crore polysilicon mining project near Kurnool as backward integration for its wafer manufacturing facilities for photovoltaic mules. This would cater to the needs of the biggest solar power wafer manufacturing facility in Maharashtra.
The project to be implemented by Birla Surya would tap the 99% quality silicon available in the state. The project is expected to be completed in three years.
According to Birla, all these projects would be funded with a debt-equity ratio of 4:1. “The equity component would consist of internal accruals, public issue, private equity and VC funding. For Birla Surya also, the company is looking at a combination of internal accruals, private equity and venture capital funding and could also tap the capital markets,” he said.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}