Yash Birla Group chalks out Rs 13,000-cr investment plan in Andhra Pradesh

MUMBAI: The Yash Birla Group today said it has submitted a proposal to the Andhra Pradesh government for setting up energy, wellness and sports infrastructure facilities in the state.

Chairman of the Group Yash Birla met Andhra Pradesh Chief Minister N Kiran Kumar Reddy with a proposed investment plan of Rs 13,000 crore.

The group proposes to invest Rs 10,000 crore for a polysilicon plant by Power solutions. The company will be producing solar grade polysilicon, silicon wafers, solar photovoltaic cells, solar photovoltaic panels at the plant, a company statement said.

"Our investment is part of Yash Birla Group plan to develop the sports sector in Andhra Pradesh. This will not only be the single largest investment made by the Yash Birla Group but will also boost sunrise sectors - alternative energy, healthcare and education in the state," Birla said.

The Yash Birla Group has also sought 450 acres near the Rajiv Gandhi International Airport at Shamshabad and another 250 acres for a wellness centre.

The capital will be generated through private equity dilution, internal accruals and proposed IPO, the release added.

The group is also making Rs 1,000 crore investment through its Birla Wellness and Healthcare division.

A Global Integrated Ayurvedic village by Birla Wellness and Healthcare division will be set up at an investment of Rs 1,000 crore, which will provide ayurvedic products and services to offer comprehensive range of both preventive and curative treatments.

The total project investment would be Rs 750 crore. The Integrated Ayurveda Complex would generate employment opportunities for 4,500 people, it added.

The group company, Birla Edutech is aiming for a sports city with an investment of Rs 2,000 crore, which will have sports infrastructure along with a manufacturing centre and a wellness centre. At the facility, local sporting talent will be developed to match international standards.

The complex will have facilities built to specifications for international sports bodies and will host academies for swimming, track and field, volleyball, tennis, golf, badminton courts among others. The project will include high rise towers, banks, business centres and shopping malls making it completely self- sufficient.