Srinagar, Dec 26: Medanta, Apollo group and Haldiram – three corporate houses with business interests in healthcare and agro commodities – are going to sign Memoranda of Understanding (MoUs) with J&K government on December 27.
The MoUs – to be signed by the heads of these groups and representatives of J&K’s Industries & Commerce Department – are meant for establishment of hospitals in Jammu & Kashmir by Medanta and Apollo Groups, while the Haldiram group intends to establish its units food processing units.
However, sources said that these MoUs are non-binding in nature, suggesting that the signing documents of the three groups at this stage are only Expressions of Interest (EoI) for investment in J&K. The EoIs can, at a later stage, transform into formal investment proposals subject to the results of their feasibility assessments and the incentives provided by J&K administration.
According to reports, the MoUs are expected to be signed in the presence of Union Minister of Housing and Urban Affairs Hardeep Singh Puri, Union Minister of State in the PMO, Jitendra Singh, J&K Lieutenant Governor Manoj Sinha and other senior J&K officials.
