Israeli firm lines up $1 billion investments in India

Mumbai: Elbit Medical Imaging, an Israeli firm, is planning to invest $1 billion in India to build a chain of hospitals, hotels, malls, offices and residential complexes.

Mordechay Zisser, owner and Abraham Goren, its vice chairman, who were in India last week, are close to finalising deals in this regard. Negotiations are in the advanced stages and deals are expected to be finalised soon, daily Ha'aretz reported.

Elbit is partnering Ambuja Realty — a unit of Ambuja Cements — for establishing a chain of hospitals in India. The first hospital, which will house a thousand beds, will be built in Kolkata at a cost of $230 million, the report said.

Elbit also plans to locate a biotechnology centre next to the hospital, construction of which is slated to commence in four months, the report said.

Elbit and Ambuja will also establish a 50:50 joint venture that will construct at least 18 hospitals in major cities across India as well as a medical college and nursing school, the daily said. The joint company will also operate the hospitals.

The joint venture will facilitate telemedicine, long distance consultation and exchanges of doctors for training and operations. Indian doctors will also be sent to Israel to attend training seminars, the report said.