World-class Sports City to come up near Hyderabad
Posted on Jan 12 2012 | IANS
Hyderabad, Jan 12 : The Yash Birla Group is to set up a world-class sports city near Hyderabad with an investment of Rs.2,000 crore. The group signed three MoUs with the Andhra Pradesh government Thursday.
The city, spread across 450 acres within 100 km radius of Hyderabad, will have all the sports infrastructure including a university to train sportspersons from childhood.
The group signed three MoUs with the Andhra Pradesh government during the Partnership Summit 2012 here Thursday for total investment of Rs.13,000 crore in three different projects.
Yash Birla, Chairman, Yash Birla Group, told reporters after signing the MoUs with Chief Minister Kiran Kumar Reddy that Birla Education Limited would build the sports university.
He said all sporting and education facilities would be provided under one roof, and that he plans to rope in sport companies like Nike and Reebok as partners in running the university.
"Every one is looking at engineering and medical education. But in the Western world, sports education is equally important. We want to bring such culture to India," he said.
"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," said a company statement.
The project will include high rise towers, banks, business centres and shopping malls making it completely self- sufficient
Birla Wellness and Healthcare division would establish a Rs.1,000-crore global integrated Ayurvedic Village near Hyderabad. The project involves manufacturing of ayurvedic formulations, hospital, treatment facility and research and development laboratories.
"The centre will provide ayurvedic products and services to offer comprehensive range of both preventive and curative treatments," said the statement.
The group has sought 450 acres near the Rajiv Gandhi International Airport at Shamshabad for sports city and another 250 acres for a wellness centre.
Birla also signed an MoU for a Rs.10,000-crore polysilicon mining project near Kurnool as a backward integration for its wafer manufacturing facilities for photovoltaic modules.
The company will produce solar grade polysilicon, silicon wafers, solar photovoltaic cells, solar photovoltaic panels at the plant.
Birla Surya Ltd. plans to complete the project in three years.
According to Birla, all these projects would be funded with a debt-equity ratio of 4:1.
The capital will be generated through private equity dilution, internal accruals and proposed IPO.