Chennai-based Frontier Lifeline Hospital will invest Rs 150 crore in Frontier Mediville, an integrated medical village, in the first phase.
The investment would be made over the next two years during which the company would set up a basic science facility, an academy and an animal lab in the medical village.
The Rs 1,500crore village, promoted by Lifeline Hospital, is coming up at Elavur (Tada), 80 km from Chennai.
Promoter of Lifeline Hospital KM Cherian said the project would come up on 390 acre over the next 10 years in phases.
The hospital started the initiative in November 2007 by signing a memorandum of understanding with the state-run Tamil Nadu Industrial Development Corporation (Tidco).
Of the total area, it has received special economic zone (SEZ) status for 55 acre on which it would develop the science facility, academy and the animal lab.
The medical village would feature a 1000-bed multispecialty bio-hospital, R&D division for stem cell engineering, imaging and applied medicine, a sterile biomedical corridor to facilitate manufacture of consumables, disposables, and pharmaceutical products required at the hospital and research laboratories.
It will also have a medical university with medical research and experimental surgical facilities, an animal house, and a herbarium, which will be designed in technical collaboration with the Korea Research Institute of Bioscience and Biotechnology and developed in consultation with the Asia Pacific Bio-Resources Consortium.
Other facilities include a 5-star hotel, shopping mall, a senior citizen’s enclave, residential quarters, holistic therapy centre, an 18-hole golf course among others.
He said the proposed project would be funded through internal accruals, loan and aid. Most of the equipment would come through as grant from the Department of Science and Technology.
