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Sun 10 Jan 2010 10:43 AM

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Dubai health chief eyes $200m Indian investment

Dr Azad Moopen sees 'huge opportunity' to set up hospital and eye-care centres.

Dubai-based healthcare entrepreneur Dr Azad Moopen plans to invest $200m setting up hospital and eye-care centres in India, according to reports in the Indian press.

"There is a huge opportunity in India. India will become one of the major powers in 25 years," Moopen told The Economic Times daily newspaper.

Moopen is the chairman of the Dubai-based Dr Moopen Group and the Kozhikode-based Malabar Institute of Medical Sciences.

"We have already started the Medicity project in 40 acres of land in Kochi. It is a Rs 500 crore ($100 million) project. It will be completed in three years," Moopen added.

Moopen was in India to receive one of 14 prestigious Pravasi Bharatiya Samman awards from Pratibha Patil, the president of India.

The award is given to Indian diaspora for their contribution to India and the Indian community overseas.

The UAE-based Dr Moopen’s Group operates seven hospitals, 25 medical centres, 50 pharmacies across the GCC and India.

When contacted by Arabian Business, a spokesperson from Dr Moopen’s Group confirmed the investment plans in India and added that the group also has plans to expand further in the Gulf region.

The firm plans to invest AED400m over the next three to five years and to add another 50 medical facilities to its network across the GCC, according to the company’s website.

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