Banker billionaire Shari Arison is joining forces with energy and property tycoon Yitzhak Tshuva in pursuing real estate opportunities in India. Arison and Tshuva ill be investing about $100 million to start with through a joint company.

Arison is making her investment via Housing & Construction (TASE:  HUCN), and meanwhile announced a new chairman for that company's board of directors, Ravit Barniv, who replaces Uzi Vardy-Zer.

Tshuva will be investing through his privately-held company Elad Group, named after his son.

The Housing & Construction board announced that the intention is to invest in major real estate and construction projects in India. It also stated that it and the privately-owned company belonging to Tshuva will own the joint company in equal parts.

As for the new appointment, until recently Barniv was the CEO of NetVision, and was chosen to manage the merged company NetVision-Globcall-Barak. But she left NetVisio in March, citing personal reasons. Industry sources claimed the real reason was a dispute with chairman Zvi Yochman.

Housing & Construction stated that the reasons for its own change at the top, with Barniv replacing Vardy-Zer, were for reasons that need not be brought to the knowledge of investors.

Arison owns the controlling interest in Bank Hapoalim (TASE: POLI), Israel's biggest bank. Tshuva operates via Delek Group (TASE: DLEKG) in energy, cars and real estate, and via the Elad Group.