Date:16/09/2008 URL: http://www.thehindu.com/2008/09/16/stories/2008091658370300.htm

Andhra Pradesh - Hyderabad

20,000-crore ‘Hyderabad Economic City’ soon

Staff Reporter

Integrated financial city to include infrastructure facilities for financial services operations
To include facilities for clinical and non-clinical services, hospitals, medical colleges

HYDERABAD: An integrated financial hub and a health care city - Hyderabad Economic City - planned with an investment of Rs. 20,000 crore, would be coming up in twin cities, a release said. An MoU to this effect was signed between Government of Ras Al Khaimah (UAE) and Andhra Pradesh Industrial Infrastructure Corporation (APIIC), in the presence of Chief Minister Dr. Y.S. Rajasekhara Reddy.

The integrated financial city would include infrastructure facilities for financial services operations for banking, insurance and asset management companies. It would also have financial services corporate centre, capital market and trading, IT, ITES and BPO services, plug-and-play intelligent buildings and information technology parks, the release said.

The integrated health city would include facilities for clinical and non-clinical services, world class hospitals, medical colleges, research services for clinical trials, drug delivery system, stem cell research and genetic research among other things, the release said.

The government of Ras Al Khaimah was represented by Executive Director of RAK Investment Authority while APIIC was represented by CMD B.P. Acharya, during the MoU signing, the release said. The government of Ras Al Khaimah, one of the seven emirates in UAE, through its various companies including RAKIA and RAKEEN, is developing integrated large-size satellite townships in India.

RAKINDO, a joint venture company of RAKI in India, is developing integrated townships with a land bank of over 3,000 acres with projects in Coimbatore, Chennai, Kumarakom, Hosur and Cochin. Each of them coming up at a project cost of two billion US dollars.