Jerusalem: An Israeli firm, Elbit Medical Imaging, is planning to invest US$ one billion in India to build a chain of hospitals, hotels, malls, offices and residential complexes.

The owner of the firm, Mordechay Zisser, and Vice Chairman of the firm, Abraham Goren, were in India last week and are close to finalising deals in this regard, which are in the advanced stages of negotiations, daily Ha'aretz reported.

Elbit's largest project in India involves establishing a chain of hospitals in partnership with Ambuja Realty.

The first hospital, which will house a thousand beds, will be built in Kolkata at a cost of USD 230 million, the report said.

A biotechnology centre will be located next to the hospital, construction of which is slated to commence in four months, it said.

Elbit and Ambuja, the leading Indian cement company, also plan to establish a joint company of equal ownership that will construct at least 18 hospitals in major cities across India as well as a medical college and nursing school, the daily said.

The joint company will also operate the hospitals.

The Indian-Israeli joint venture will facilitate telemedicine, long distance consultation and exchanges of doctors for training and operations.

"Indian doctors will also be send to Israel to attend training seminars," the report said.