Business Daily from THE HINDU group of publications
Wednesday, April 30, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Wednesday, April 30, 2008 ePaper | Mobile/PDA Version |
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News Update as at 15.00 hrs (IST)
Corporate Apollo to set up hospitals investing about Rs 1,000 cr NEW DELHI: Medical care services provider Apollo Hospital's group on Wednesday said that it will be investing about Rs 1,000 crore in the next 18 months to set up about 15 hospitals in tier II and III cities in India. The hospital chain, which is looking for an overseas expansion, is also planning to re-enter Sri Lanka besides expanding its operations in African continents. "The idea is to set up tertiary hospitals in tier II and III cities, we plan to set up about 1 5 hospitals in next 18 months with an investment of about Rs 1,000 crore,'' Apollo Hospitals Group Chairman Prathap C Reddy told reporters here on the sidelines of CII annual session. He said on an average these hospitals would have around 200 beds and in the next 18 months, the group is looking at 10,000-bed capacity. Commenting on overseas expansions, Dr Reddy said the group is planning to re-enter Sri Lanka again. Apollo Hospitals, earlier, had operations in Sri Lanka in which they had minority stake and it had to abandon the project following the take-over by the Sri Lankan business tycoon Harry Jayawardene. - PTI
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