The Andhra Pradesh Government has inked a memorandum of understanding with Government of Ras Al Khaimah (UAE) to develop the Hyderabad Economic City, as an integrated financial hub and health care city on the outskirts of Hyderabad. The Hyderabad Economic City project is expected with an investment of $ 5 billion (around Rs 20,000 crore). A release from the Chief Minister''s Office said that the integrated financial city component of the project will comprise infrastructure facilities for financial services operations like back office for banking, insurance and asset management companies
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