Nirali Memorial Medical Trust (NMMT), established by Larsen and Toubro Group Chairman A M Naik, Saturday announced investment of Rs 150 crore to set up a specialty hospital in Gujarat's Navsari.
It has tied up with Apollo Hospitals Group, which will operate and manage the 300-bed facility.
"It will come up in early 2021. Investment details are being worked out but it should be Rs 150 crore," Naik told PTI on the sidelines of an event.
Last year NMMT joined hands with the Tata Trusts to set up a specialty cancer hospital at Navsari. Naik informed that the 150-bed cancer hospital would come up in the second half of 2020.
Apollo Hospitals Chairman Prathap C Reddy said that Naik is following in his parents' footsteps by setting up schools and hospitals.
"This is something which the country needs. We need to add 1,00,000 beds per year for next five years to meet the country's needs and specially (when) NCDs (Non-communicable diseases) diabetes, heart attacks, strokes, cancer are threatening," Reddy said.
NMMT is named in the memory of Naik's granddaughter Nirali who died of cancer at the age of two in 2007.
The trust was set up by Naik and his family to help needy patients who lack access to quality medical treatment.
The trust has developed AM Naik Healthcare Complex at Sisodra in Navsari. Spread over eight acres, it will house both the cancer hospital and the multi specialty hospital.
"A M Naik Healthcare Complex at Navsari will witness three eminent recipients of Padma Vibhushan, namely Mr A M Naik, Mr Ratan N Tata and Dr Prathap C Reddy, joining hands to serve the people," Naik said.
NMMT also runs Nirali Memorial Radiation Centre in nearby Surat, a multi-disciplinary hospital at Powai in Mumbai and provides modern medical facilities at a hospital at Kharel, Gujarat.
The L&T chief had pledged 75 per cent of his income to philanthropy.
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