GMR plans Rs. 4,500cr hospital in Hyderabad

Hyderabad : The GMR Group has initiated negotiations with various players including Apollo Hospitals and US-based Mayo clinic for setting up an ambitious hospital project in the vicinity of the Hyderabad International Airport entailing an investment worth Rs. 4,500cr ($1 billion). The group owned a huge track of land in the area and is keen to make the most out of it by roping in a health care company of global repute.

Official sources claimed that the group is currently weighing various options including forging a joint venture but there is nothing concrete on this score as yet. In fact the company has the advantage of owning a land parcel and multinational including Mayo Clinic, which is in a strong financial position with a revenue earning of about $7.5 billion spanning in multiple sectors like medical research facilities and educational institutions but not making profit in its health care wing and it is keen to revive its medical business operations by tying up with Indian player.