November 21, 2008

SAIL cooperative body to set up hospital

ET reported that Steel Authority of India Limited Employees' Cooperative Credit Society has embarked upon an initiative to set up a hospital for the poor in Kolkata.

Mr Jyotirmoy Chakrabarty secretary of cooperative society SAIL at said that the hospital would have 50 beds besides basic facilities like X ray machines, pathological unit and an operation theatre. It would cater only to poor people from whom moderate fees would be charged. He added that the land for the project had already been identified and the work would start soon. It had set aside a fund of INR 5 crore for the purpose, the interest of which would be used to meet project expenses.

Besides the hospital, SAIL the cooperative body also plans to enter food processing by setting up a 100% subsidiary called Mahabharat Agro Industries Limited. With a capital of INR 100 crore, it hopes to make a profit of INR 2 crore during the current financial year.