State ties up with U.S. group to set up Rs. 6,000-cr. biotech park

State ties up with U.S. group to set up Rs. 6,000-cr. biotech park

S. Rajendran

Planned two years ago, it will be spread over 106 acres

The park will come up in the vicinity of Electronics City

Inauguration of first phase of work likely soon

Bangalore: The Karnataka Government has tied up with Alexandria Equities and Holdings, the biotech park developers in the United States, to set up a Rs. 6,000-crore state-of-the-art biotech park in the vicinity of Electronics City on the southern outskirts of Bangalore.

Sources in the Government told The Hindu that the biotech park, as originally contemplated nearly two years ago, would be spread over 106 acres and come up in two phases.
Leading units

The first phase, to accommodate two leading biotech-related research and development institutions on a six-acre plot — Institute of Bioinformatics and Applied Biotechnology and the Centre for Human Genetics — is ready for inauguration.

The two institutions, which are now functioning at the Information Technology Park, Whitefield, will shift to the new park.

While the Institute of Bioinformatics has 180 students, the Centre for Human Genetics is basically a research institution with 30 researchers working in various fields of biotechnology.

In all probability, the first phase of the park will be inaugurated in the first fortnight of April ahead of Bangalore Bio 2008.
Rich experience

The second phase to accommodate the biotech units, estimated to cost around Rs. 6,000 crore, will be the main part of the biotech park.
Letter of Intent

The letter of intent to develop the park has been extended to the Alexandria Group which includes TCG (T. Chatterjee Group) of India. TCG will serve as the local arm.

It is said that the Alexandria Equities, which has developed a large number of biotech parks in the U.S. and has rich experience in the biotech sector, has ventured out of that country for the first time to set up base in Bangalore.

About the benefits that would accrue to the State with the involvement of a multinational company to develop a biotech park, Principal Secretary, Information Technology and Biotechnology, M.N. Vidyashankar, said that the benefits were of a high order. Space in the Bangalore biotech park would be made available to top U.S.-based biotech firms.

The State Government has signed a 30-year concession agreement with Alexandria TCG developers to develop, allot the biotech units and maintain the park.

The 100-acre plot was recently handed over to the developers. Nearly 150 biotechnology units encompassing diverse fields will come up at the park which will be commissioned in 18 months from now.

Meanwhile, Bangalore Bio 2008 will be held for three days from April 24 at the Bangalore International Exhibition Centre on Tumkur Road. This will be the eighth international biotechnology meet.