HYDERABAD: In a firstofitskind project in India, the Yash Birla Group said it would set up a Rs 2,000crore Sports University near Hyderabad. The company also announced two more projects: an ayurvedic village and a polysilicon mining project near Kurnool. Together, the Yash Birla Group announced investments of Rs 13,000 crore in the state over a period of three years.
"This will be a university aimed at training sportsmen from childhood. Nowadays, everyone's looking at engineering or medical education. But in the west, sports education too is equally important. We want to bring such a culture to India. All sporting and education facilities will be brought under one roof. Sports companies like Nike and Reebok will be roped in as partners of the university," said Yash Birla, chairman of the group.
Speaking to the media after signing MoUs for three projects with the state government on the sidelines of the CII Partnership Summit Thursday, Birla said the sports university will be set up within 100 km of Hyderabad over about 450 acres.
The Yash Birla Group's second project, the Ayurvedic Village, will also be near Hyderabad. Having an investment of Rs 700 crore, it will be part of Birla Wellness, a public company. "We will manufacture ayurvedic formulations, provide auyrvedic treatment and conduct research development," Birla said. "It will facilitate retail services also and experts from Kerala, who are engaged with Birla Wellness, would be its partners."
In the other project announced by Yash Birla, the group will invest Rs 10,300 crore in a polysilicon mining project near Kurnool as backward integartion for its wafer manufacturing facilities for photovoltaic modules. It will cater to the needs of the biggest solar power wafer manufacturing facility in Maharashtra. According to Birla, all these projects would be funded with a debtequity ratio of 4:1 and the equity component would consist of internal accruals, public issue, private equity and/or VC funding.