Hindujas, DP World to invest Rs 200 cr in healthcare

MUMBAI: Hinduja TMT Ltd, which is being renamed as Hinduja Ventures, and its joint venture partner UAE's DP World will invest Rs 100 crore each to enter the healthcare sector.

"We will invest Rs 100 crore and DP World would also invest a similar amount," Hinduja Ventures' Executive Chairman Ashok P Hinduja told reporters here.

In March, Hinduja TMT and Dubai World signed a joint venture agreement for infrastructure development projects in India and the Gulf city. DP World is a subsidiary of Dubai World, a holding company owned by the Government of UAE.

"The medicare (healthcare) investments would cover all aspects of the industry such as research & development, diagnostic centres and real estate," Hinduja told the company's shareholders at the annual general meeting here.

The shareholders approved the name change from Hinduja TMT to Hinduja Ventures.

With cash reserves of Rs 502 crore, Hinduja TMT would invest in healthcare, real estate, media and at least half-a-dozen new ventures, Hinduja said.