S'pore firm to build medicity in Puducherry


Velli Ventures, a Singapore-based company with offices in the United States, is building a medicity in Puducherry, India.

The US$1 billion ($1.32 billion) project, to be completed by 2025, will come up over 80 hectares in the union territory's Karaikal district, with the initial development to be completed by next year.

"Healthcare tourism is a fast-growing business that is capitalising on the economic growth and healthcare development in India," said Ms Sharmila Nagarajan, the president of Velli Ventures.

"Medical Value Travel to India is also growing at a fast rate of 55 per cent a year and is expected to touch US$9 billion by the end of the year due to high-quality medical facilities at low cost.

"The current Covid-19 pandemic has increased the awareness and importance of high-end healthcare facilities, and we believe that we will be able to deliver some of the best medical solutions and tap on the massive business opportunities."

The Karaikal Healthcare City has been designed as a unique integrated and sustainable facility that will not only provide modern medical treatments to patients but also help in their recovery, rejuvenation and relaxation. It will also have treatment facilities for Ayurveda and other forms of alternative medical practices.

The location is scenic and along the Coromandel Coast. The medicity will be well connected by rail, road, sea and air.

Velli Ventures has engaged United States medical management services provider American Medical Holdings and Jurong Consultants, part of Singapore-based Surbana Jurong group, to provide the technical know-how and business advice.

They will work closely with the Puducherry government authorities and other private investors on the project.

"The medicity project will transform healthcare in the Karaikal region," said Puducherry Chief Minister V. Narayanasamy.

"It will make affordable and quality healthcare accessible to everyone.

"The project includes a herbal garden, e-vehicles and digital presence to minimise carbon footprint. This aligns with our vision to provide better care to the people and the environment.

"The project will also be a significant boost to the local economy and employment."

The chief minister, who is behind the bid to modernise Puducherry with digital and high-tech solutions, added that the Puducherry government will provide strategic support and facilitate the ground-level requirements.

Mr Narayanasamy, who is an admirer of Singapore's economic development, visited Singapore in November 2019 to woo investors to his union territory. Velli Ventures' medicity project is an outcome of that.


"The medicity project will transform healthcare in the Karaikal region. It will make affordable and quality healthcare accessible to everyone." - Puducherry Chief Minister V. Narayanasamy


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