In a statement, the group, which has promised to invest Rs 21,000 crore in the project, said it roped in design firm Sasaki, consultancy firm Buro Happold as design planners for the project as well as some experts from Singapore Housing Development Board.
Rainbow currently has a capacity of 1,655 beds, of which 1,290 beds are operational. The expansion is part of its plan to add 1,000 beds in four years, which includes two greenfield hospitals in Gurgaon with 400 beds at a capex of ₹550 crore, which would be ready by FY27.
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Thyrocare is planning to fund its international expansion in Africa with its internal accruals. The company is also bidding aggressively on Indian government health tenders, with most capital allocation for the next year targeted at its expansion effort in Africa and the Middle East. Its franchise business achieved a 16% YoY growth, largely due to expansion in tier two and beyond areas. The company hopes to maintain its EBITDA margin for the remainder of the year and achieve a 12% YoY growth for the financial year.
The government has set ambitious annual targets for bidding out 50GW if renewable energy projects every year. Tata Power will actively participate in these tenders, Sinha said.