RJ Corp eyeing JV with Belgium-based alcohol manufacturer

New Delhi, July 16 (UNI) RJ Corp, the Rs 1200 crore group in diversified areas of food and beverage, education, hospitality, and real estate, is eyeing a joint venture with Belgium-based beer manufacturers, Inbev, which is at the finalistaion stage.

''The 50:50 joint venture is at its finalisation stage. The business will be based in Delhi but cover whole of the country,'' RJ Corp Chairman Ravi Jaipuria told UNI.

He, however, denied to divulge further details saying its too early to disclose further details.

Earlier this week, the group announced its foray into the healthcare space with a joint venture with US-based Cryobanks International, besides pumping in Rs 100 crore in 18 months to set up seven cord blood stem cell storage facilities across India.

On being asked about the group's other initiatives in the healhcare segment, Mr Jaipuria said, it might venture into nurses training institutions.

RJ Corp will also invest Rs 150 crore in the next three years for adding 300 franchisee Costa Coffee outlets all over the country.

Last year, it inked a franchise agreement with UK's Whitbread for opening the outlets.

The group is also increasing its invetments in real estate and hotel business by adding 10 more hotels to their existing hotels in Delhi and NCR.

The group also owns an Ice cream brand Cream Bell, under its technical tie-up with France's Candia.

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