Cabinet gives nod to biotech park in B'lore | india | Hindustan Times
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Cabinet gives nod to biotech park in B'lore

Karnataka Cabinet approved a proposal for setting up a biotech park on a 106-acre plot at the Electronic City

india Updated: Jun 04, 2006 12:53 IST

Karnataka Cabinet on Sunday approved a proposal for setting up a biotech park on a 106-acre plot at the Electronic City at an approximate cost of Rs 103 crore, in a move to give a fillip to the sector.

Part A of the project, costing Rs 14 crore, envisages construction of a building for Institute of Bioinformatics and Applied Biotechnology and the Centre for Human Genetics, hostel building, other facilities and administrative building for Karnataka Biotechnology and Information Technology Services.

Briefing reporters, Transport Minister N Chaluvaraya Swamy said under the Rs 67 crore Part B of the project, construction of a biotech incubation centre and common instrumentation facility would be taken up.

"For this purpose, (setting up of the biotech park) land has already been obtained through Karnataka Industrial Area Development Board to an extent of 106 acres, of which possession has been taken of 92 acres. Land cost is about Rs 17 crore", he said.

State officials said new entrepreneurs would be able to use the common facility centre and testing facilities, bringing down their capital cost and encouraging fresh investment in the State.

The Vision Group on Biotechnology had considered the proposal in a meeting on May two and recommended it for approval by the Government.

Union Department of Biotechology, had allotted Rs 14 crore of which Rs 11 crore had already been released.