Financial Daily from THE HINDU group of publications
Friday, Jun 18, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - New Projects


IMG Academies unveils master plan for sports complex

Our Bureau


An artist's impression of the IMG Bharata project to come up near Hyderabad. - A. Roy Chowdhury

Hyderabad , June 17

IMG Academies Bharata (IMGB), a wholly owned subsidiary of IMG Academies East (IMGE), has come out with a master plan to develop a world-class athletic training, education, leisure and resort complex here at a cost of Rs 700 crore.

IMGB has unveiled the master plan in New York on Thursday even though the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, had announced that his Government would review the land allotments made to various enterprises by the previous Telugu Desam Government. The Chandrababu Naidu Government had allotted 400 acres of prime land for IMGB complex.

The Florida-based International Management Group, the parent company of IMGB, is one of the world's largest companies engaged in the marketing and management of sport, leisure and lifestyle. The proposed IMGB complex includes a championship golf course and a spa resort.

IMGB Director, Mr Billy Rao, told newspersons here on Friday that he was confident that the new State Government headed by Dr Reddy would continue to support the project, modelled after the successful IMG academies in the US.

"We are keeping the Government posted on the progress of the project. Once the new State Government settles down, we will discuss with it about the project development," Mr Rao said when asked whether Dr Reddy's Government had given its consent for continuation of the project activities.

He said that the project was progressing as per schedule and enrolment for student, professional athletes and adult fitness programmes would commence in September 2006. The academy was expecting to have 300 students to start with. The total strength of the academy in the long-term would be 1,200 students.

Mr Rao said Grand Slam winner Jim Courier had joined the IMG board and would be spending lot of time in India in connection with the project. IMGB would also foster sports infrastructure in Hyderabad, which currently remained unused for most of the time. It would develop and train a large network of coaches and trainers to work with children and youngsters in India.

IMG International Vice-President, Mr Greg Sproule, said that IMGB would be creating the most sophisticated international sports training and educational facilities that would help in tapping India's vast sports talent pool.

More Stories on : New Projects | Sports | Education | Andhra Pradesh

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Welspun Gujarat bags Rs 407-cr Libyan order


BILT plans to increase farm forestry coverage programme
Bata assures shareholders on revamp plan — Batanagar model township work to begin by November
Paranjape Constructions to spread wings abroad
BHEL bags RUVNL Dholpur power project
EIL plans to bid for Delhi, Mumbai airports
Coal India to discontinue selling directly to non-core sectors
NBFAL bags `Clean' award
CESC plans to retire part of debt to bring down interest costs
Sterlite keen on acquiring residual Govt stake in Balco
Hewitt Associates merges with Exult
Kakinada to get bio-diesel plant
IMG Academies unveils master plan for sports complex
Ramco Industries to set up Rs 17-cr fibre cement sheet unit in Kutch — Net profit up 30 pc; to pay 75 pc final
Sneha Media ties up with TV9 for news content
Jagsonpal Pharma announces 3:1 bonus
Coking coal crunch shrinks SAIL sales



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line