Tuesday, September 16, 2008

RAS AL KHAIMAH TO DEVELOP ECONOMIC CITY

Chennai/Hyderabad
Business Standard

The Andhra Pradesh government has entered into a memorandum of understanding with the government of Ras Al Khaimah (UAE) for developing the Hyderabad Economic City (HEC), an integrated financial hub and health care city, at a cost of $5 billion (about Rs 22,500 crore).

The proposed financial hub, to come up on the outskirts of the city, includes infrastructure facilities for financial services operations like back office for banking, insurance and asset management companies.

It will have, among other facilities, a financial services corporate centre, information technology parks and plug-and-play intelligent buildings.

The integrated health city under the project will include clinical and non-clinical services such as hospitals, medical colleges, research services for clinical trials, drug delivery system, stem cell research and genetic research, according to an official press release.

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