Israel Relation

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This is MUST read. U can see the dual faces of the largest and biggest corporate giant of India. THE CPM

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Israel Relation

  1. 1. ISRAEL RELATION – DUAL FACE CPM Bengal Ambuja, Israeli co plan hospital chain Bengal Ambuja has entered into a strategic alliance with Elbit Medical Imaging (EMI) of Israel to develop a multi-speciality hospital and biotech research centre in Kolkata and other towns in West Bengal. The agreement entails capital investment of Rs 1,000 crore over a span of five to seven years on a 50:50 joint venture basis for a total built-up area of 2.5 million sq ft. In the first phase, a 1,000-bed multi-speciality tertiary care hospital and biotech research centre will be developed in Kolkata, for which a 25- acre plot has been identified near the Peerless Hospital on the Eastern Metropolitan Bypass. Contact: Bengal Ambuja. Tel: 033-2285 0028. Fax: 033-2285 0610. Email: ktg@bengalambuja.com Website: www.bengalambuja.com About Ambuja Realty In the early 90’s Bengal Ambuja Housing Development Limited (BAHDL) was set up as a joint initiative between West Bengal Housing Board and Gujarat Ambuja Cements Limited. BAHDL now is a joint venture between West Bengal Housing Board and Ambuja Housing and Urban Infrastructure Company Limited consequent upon the divestment of Gujarat Ambuja Cements Ltd’s stake. Over the years the company has developed excellent professional expertise in developing housing and other infrastructure projects in association with WBHB, Asansol - Durgapur Development Authority, Burdwan Zilla Parishad and Sriniketan Shantiniketan Development Authority. Its signature projects are Udayan, (The Condoville along the Eastern Metropolitan Bypass), Utsa and Ujjwala (The condoville at New Town, Rajarhat). Currently, the Ambuja Realty group is being led by Shri Harshvardhan Neotia under the guidance of group patriarchs Shri Suresh Neotia and Shri Vinod Neotia Bengal Ambuja, Israeli co plan hospital chain Bengal Ambuja has entered into a strategic alliance with Elbit Medical Imaging (EMI) of Israel to develop a multi-speciality hospital and biotech research centre in Kolkata and other towns in West Bengal. The agreement entails capital investment of Rs 1,000 crore over a span of five to seven years on a 50:50 joint venture basis for a total built-up area of 2.5 million sq ft. In the first phase, a 1,000-bed multi-speciality tertiary care hospital and biotech research centre will be developed in Kolkata, for which a 25- acre plot has been identified near the Peerless Hospital on the Eastern Metropolitan Bypass. Contact: Bengal Ambuja. Tel: 033-2285 0028. Fax: 033-2285 0610. Email: ktg@bengalambuja.com Website: www.bengalambuja.com
  2. 2. ELBIT MEDICAL IMAGING LTD. ANNOUNCES STRATEGIC TIE UP WITH AMBUJA REALTY FOR DEVELOPMENT OF A PAN- INDIA WORLD CLASS STANDARD HOSPITAL CHAIN Tel Aviv, Israel, December 11, 2006 - Elbit Medical Imaging Ltd. (NASDAQ: EMITF) (quot;EMIquot; or the quot;Companyquot;) and Ambuja Realty Group of India announced today that they have entered into a strategic joint venture to develop and operate a chain of multi-specialty tertiary hospitals in India to address the emerging need of specialized medical care in India. It is anticipated that the chain will include hospitals in major metropolitan areas of India. The first hospital in the chain will be a 1000 bed multi-specialty tertiary hospital and biotech research centre in Kolkata, to be named quot;The Neotia Elbit Healthcitiquot;. The project will also include ancillary services such as a Biotech Research Centre, serviced apartments for patients' families, a medical mall, an alternative medicine centre, and a nursing training institute. The total built up area of the project is anticipated to be approximately 250,000 square meters (approximately 2.5 million square feet), and the capital investment in the Kolkata project will be approximately INR 1,000 crores (approximately US $230 million) over a period of several years. The Initial Agreement to this effect was signed today by Mr. Harshavardhan Neotia, Managing Director of Ambuja Realty Group and by EMI's Executive Chairman of the Board of Directors, Mr. Mordechay Zisser, and by Vice Chairman of the
  3. 3. Board of Directors, Mr. Abraham (Rami) Goren, in Kolkata in the presence of Honorable Chief Minister of West Bengal Sri Buddhadeb Bhattcharjee and His Excellency Mr. David Danieli, Ambassador of Israel. EMI, through its various activities in the field of medical devices and biotechnology, through its controlled subsidiaries Insightec Ltd. (quot;Insightecquot;) and Gamida Cell Ltd. (quot;Gamida Cellquot;) has ongoing relationships with numerous medical centers in Israel and abroad. It is anticipated that the new hospital chain will have close collaboration with both Insightec and Gamida Cell in the field of clinical trials and research and close ties with several medical centers in Israel and abroad for telemedicine, specialty treatments and training of personnel. The Ambuja Realty Group is engaged in the residential and commercial sectors, which includes IT parks, retail malls and Special Economic Zones, Theme parks, hotels and banquets, education and healthcare centers, and is chaired by Mr. Suresh Kumar Neotia who is also a founder promoter of Gujarat Ambuja Cements Limited (GACL) - one of India's largest cement Companies. Mr. Harshavardhan
  4. 4. Neotia is the Managing Director of the Ambuja Realty Group. Bhagirathi Neotia Woman & Child Care Centre (BNWCCC) is Neotia's first healthcare venture. BNWCCC caters to specialties like high risk pregnancies, advanced laparoscopic surgeries, paediatric surgeries and treatment of very low birth-weight babies. The Centre has recently set up an infertility clinic named Genomee in collaboration with Herzliya Medical Centre of Israel. EMI has been active in India for a period of approximately twelve months, and has concluded transactions for three additional projects in India: (i) The Koregaon Park Project located in Pune for the development of a shopping and entertainment center together with office facilities with a total built up area of approximately 100,000 square meters (inclusive of parking places) (approximately 1,100,000 square feet), which shall be transferred to EMI's controlled subsidiary company Plaza Centers N.V. (quot;Plaza Centersquot;), subject to approval of Plaza Center's board of directors) and under a project sourcing agreement signed between those two companies; (ii) the Kharadi project, also
  5. 5. located in Pune - which is comprised of a shopping and entertainment center together with an office block and an apartment hotel with a total built up area of approximately 240,000 square (inclusive of parking places) (approximately 2.64 million square feet), which shall be executed and jointly held by EMI and Plaza Centers (subject to approval of Plaza Center's board of directors), and; (iii) the Cochin I Project located in Cochin, for the construction of a residential apartment building, an hotel and a marina with a total built up areas of approximately 800,000 square meters (inclusive of parking places) (approximately 8.8 million square feet), which will be executed by EMI. All of these projects are to be executed in collaboration with local partners, each of whom is a leading property developer in the relevant cities. In addition to these projects, EMI, together with Plaza Centers, is in the process of evaluating and examining several other projects in various parts of India, with a strong focus on the leading metropolitan areas in South India.
  6. 6. Mr. Mordechay Zisser, Executive Chairman of the Board, commented: quot;We are especially gratified to be joining forces with the Ambuja Realty Group and with the prestigious Neotia Family in this promising project. It is envisaged that this project will offer huge potential for growth while at the same time catering for an ever growing need for specialized medical treatment centers in India. Furthermore, EMI's existing investments in Insightec and Gamida Cell have a clear synergy with this new and very exciting project.quot; quot;Our group's pioneering spirit is constantly leading us into new areas. We have been well known as market leaders. In our commercial projects, EMI will bring the added benefit of eleven years of expertise and experience gained in Eastern Europe in the penetration of markets in relatively low income emerging nations within a strong regulatory environment. In the health care projects, Israel's advanced medical systems and infrastructures will enable EMI to accelerate these projects and to become a leading foreign developer in this market and combine EMI's philosophy of doing good business while at the same time helping people in
  7. 7. need.quot; About Elbit Medical Imaging Ltd. EMI is a subsidiary of Europe Israel (M.M.S.) Ltd. EMI's activities are divided into four principal fields: (i) Initiation, construction, operation, management and sale of shopping and entertainment centers in Israel and in Central and Eastern Europe; (ii) Hotels ownership, primarily in major European cities, as well as operation, management and sale of same through its subsidiary, Elscint Ltd.;(iii) Investments in the research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment,
  8. 8. through its subsidiary, InSightec Ltd. and (iv) Other activities consisting of the distribution and marketing of women's fashion and accessories through our wholly-owned Israeli subsidiary, Mango, and venture-capital investments. Any forward looking statements with respect to EMI's business, financial condition and results of operations included in this release are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward looking statements, including, but not limited to, product demand, pricing, market acceptance, changing economic conditions, risks in product and technology development and the effect of EMI's accounting policies, as well as certain other risk factors which are detailed from time to time in EMI's filings with the Securities and Exchange Commission including, without limitation, Annual Report on Form 20-F for the fiscal year ended December 31, 2005, filed with the Securities and Exchange Commission on June 30, 2006.
  9. 9. For Further Information: Company Contact Investor Contact Shimon Yitzhaki Kathy Price Elbit Medical Imaging Ltd. The Global Consulting Group (972-3) 608-6000 1-646-284-9430 shimony@elbitimaging.com kprice@hfgcg.com © 1995-2008 EDGAR Online, Inc. All rights reserved • NASDAQ: EDGR • Solutions for Corporations • Terms of Use • Privacy Statement Basu on visit to Israel JERUSALEM, June 30: West Bengal Chief Minister Jyoti Basu arrived here last night on a week- long tour to Israel to seek investment opportunities in the state and collaboration in agriculture development and other high-tech areas, particularly information technology and electronics. Basu, who is heading a 25-member business delegation from the state, is expected to meet Prime Minister Ehud Barak, former premier Shimon Peres and other political leaders during his stay in Israel. West Bengal Chief Minister’s maiden trip here, first by a senior Communist leader, assumes added significance as Left Parties had been opposed to establishment of diplomatic ties with the Jewish state in the past. India and Israel established full fledged diplomatic ties in 1992. Official sources said a number of companies from West Bengal had expressed interest in collaboration with their Israeli counterparts in high-tech areas like information technology and electronics, apart from agriculture where Israel has gained famed expertise. Some agreements are expected in be signed in this regard. Basu’s trip is a follow up move to an exploratory visit by CPI(M) MP and West Bengal Industrial Development Corporation chairman Somnath Chatterjee, who had led a similar delegation to Israel in 1998. (PTI)
  10. 10. INDIAINFOM.COM Basu?s high praise for Israel Shyam Bhatia, indiainfo.com July 13, 2000 7.45 hrs (IST) London: quot;India and the whole world want the Middle East peace process to succeed, but the ruling Israeli Labor Party is divided and Palestinian President Yasser Arafat also has his own problems,quot; West Bengal Chief Minister Jyoti Basu told indiainfo.com. Basu, who stopped over in London on his way back to India from an official visit to Israel, described Israeli Prime Minister Ehud Barak as a quot;good manquot; and said former Israeli Prime Minister Shimon Peres, who is the favourite to be the Jewish state's next president, as quot;committed to peace.quot; Basu's observations were made as Israeli and Palestinian negotiators at Camp David in the United States try and negotiate a final settlement that will lead to the creation of an independent Palestinian state. Basu said he had no problem with visiting Israel and explained how an invitation from Tel Aviv had been pending for two years. He decided to take it up when the outgoing Israeli ambassador to New Delhi called on him at his Calcutta home and urged him to accept his government's long standing invitation. Basu was accompanied on his trip to Israel by Somnath Chatterjee, MP and the Communist Party of India (Marxist) leader in the Rajya Sabha. Both were clearly impressed by what they saw. Basu described Israel as quot;a small countryquot;, but quot;full of high tech.quot; Speaking in London Wednesday night to a crowd of well wishers who were invited to meet him at India House, Basu said he was a student in London 1940 and had been a frequent visitor to the British capital since independence. Turning to the issue of industrial relations in his home state of West Bengal, Basu said he fully supported workers who demanded their rights. quot;But we have told them that if they can get what they want by negotiation, so much the better. We have also encouraged employers to talk to the workers.quot;

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