The Global Investment Meet in Kerala has witnessed agreements worth Rs 1300 crore investment in the health sector. Two private parties signed the agreement with the Kerala government.

The Universal Empire Institute of Medical Sciences Pvt Ltd, Kochi, is investing approximately Rs 800 crore to set up an institute of medical sciences hospital and research centre in Kochi and an institute of medical sciences in Palakkad. The NRI Institute of Medical Sciences is investing Rs 500 crore to develop a foreign medical university in Kerala, according to a press release from the organisers of the GIM.

Besides the above, Al Basti Trading, Dubai, has signed a pact worth Rs 135 crore to set up a biomedical waste disposal and management plant while Hi-reach Infotech, Chennai, signed an MoU for setting up a Rs 46 crore Medinet for the Health Department.

The Kerala government has agreed to speed up the process for clearance to the abovementioned project, according to the press release. No details were forthcoming on when the above projects would commence operations. Guesstimates have it that the above projects would see the light of the day between 2004 and 2005.

The two institutes to be set up by the Universal Empire and the one by the NRI Institute comes close on the heels of investments worth Rs.1000 crore by the private sector subsequent to the opening of the educational and health sector by the Kerala government. The state has already seen five new medical colleges getting the nod from the Medical Council of India (MCI) to admit students from the next academic session. Further the state has also witnessed a sudden spurt in the number of hi-tech hospital following the opening of the sector.