Qatar to buy into $50 m Kerala health project

Thiruvananthapuram, July 31 | Updated: Aug 1 2005, 06:29am hrs
Amir of Qatar may soon pick up equity in the $50-million holistic health village project at Balusseri (in Kozhikode) where the Kerala government owns land with ready-made building infrastructure. The previous promotor, Rs 1000-crore Mata Amritanandamayi Mutt, had walked out of the project three years ago.

A high-level investment team of the Qatar government, which in June had a study of Kerala, in the last week indicated its preference for the health tourism project in which native Ayurveda and indigenous alternative therapies play an important part. Almost in contrast, another project that the Qatar government had offered to invest in is a $200-million plastic processing SEZ (special economic zone) at Hosdurg in Kasargod, sources told FE.

In an integration to its core competence in the production of plastic, the Qatar government has identified a wage-cost advantage in promoting moulded plastic industry in north Kerala. Qatar is also likely to be a partner in the $127-million LNG distribution project in Kochi.

As many as 20 detailed projects were showcased to the Qatar team in the presentation by the KSIDC, but it was the Balussery facility that most caught the Gulf investors eye.