Sri City to pump Rs 35 crore on development of Health Care Facility

Sri City Private Limited, an enterprise promoted by Mr. Ravindra Sannareddy, Chairman, Megasoft Limited, is planning to invest around Rs 35 crore in a health care facility, which has been proposed to be developed inside the Special Economic Zone (SEZ).

Today, the company signed a Memorandum of Understanding (MoU) with Chennai-based Frontier Lifeline Hospital to develop an emergency care unit in the first phase with an investment of Rs 5 crore.

Under the second phase, the company would develop a 150-bedded multi-specialty hospital, with an investment of Rs 30 crore.

Under the arrangement, Lifeline Hospital will provide equipments and staff and manage the hospital for Sri City.

According to a company official, who did not want to be identified, around 25 acres has been allotted for the hospital, while the emergency care unit will come up in a 5000 sq ft built-up area.

The first phase of the project is proposed to be completed by February 2010 and the second phase by 2011.