Saudi- Shetty to invest SR2bn in NMC hospitals in KSA

(MENAFN- Arab News) Indian business tycoon B.R. Shetty has plans to make huge investments in the Kingdom's hospital and pharmaceutical projects said Sheikh Rafik Mohammed chairman of Gammon Group and Shetty's business partner.Speaking to Arab News he said Shetty whom Forbes Magazine listed in March 2014 as the fourth richest expatriate billionaire in the UAE has been invited to attend a major investment conference in Jazan to be held on Feb. 24-25.He said Prince Turki bin Nasser director of international trade at the Ministry of Commerce and Industry and supervisor of the SR75 billion Jazan Industrial City has personally invited Shetty to attend the conference as chief guest.The conference will be attended by Khalid Al-Falih president and CEO of Saudi Aramco senior executives of the oil giant royal family members and senior government officials.B.R. Shetty CEO and managing director of New Medical Center Group and UAE Exchange has already committed to invest SR1 billion in a pharmaceutical (Neo Pharma) plant in Jazan. 'He intends to establish three super specialty NMC hospitals in Riyadh Jeddah and Dammam' Mohammed said.'Shetty is interested to do business in Saudi Arabia especially in healthcare and education sectors. His new hospitals in the Kingdom would be equipped with advanced facilities' Mohammed said adding that the hospital projects would involve a capital investment of nearly SR2 billion.A pharmacist-turned business tycoon Shetty has already announced his plan to expand his group's operations in the GCC countries. He considers Saudi Arabia as one of the best places in the region for investment and doing business.