The Saudi Arabia-based Al Abeer Medical Group has submitted to the government a multi-crore edu-city project in the healthcare sector.
The edu-city will have kindergarten to professional colleges under it where 65 per cent of the seats will be reserved for children of the NRIs and NRI returnees on merit basis.
The project submitted by the group two weeks ago through the Kerala State Industrial Development Corporation (KSIDC) , however, has to overcome some policy hurdles as the existing NRI quota system in the education sector does not approve of the quota ratio suggested in the proposal.
Talking to The Hindu over the phone from Saudi Arabia, Muhammad Alungal, chairman and managing director of group, said the project was a novel initiative in the healthcare education sector with its focus on the NRIs and zero financial liability for the government.
“However, it requires an important policy level decision by the government for the project to materialise,” said Mr. Alungal.
Al Abeer Medical Group, which has purchased about 70 acres in Malappuram, will own 50 per cent of the project and look for investors by presenting it at the Business to Business (B2B) Connect segment of the Emerging Kerala investors’ meet in Kochi.
“As the project is focussing on the NRI community, investments from the NRIs will be given priority ,” said Mr. Alungal.
Maintaining that the project comprised a series of educational institutes, including an international school, he said it would focus on a range of undergraduate and post graduate courses specially designed to meet the needs of the healthcare industry.
The project, he said, was expected to come up in an area of 70 acres at an estimated cost of Rs.800 crore.
The educational institutes proposed under the project would give admissions to the children of the NRIs at a fee much lesser than the present one.
Source : thehindu