The state government has announced plans to set up one of the world's biggest research and development (R&D) hubs near the city, in Raigad. Chief Minister Ashok Chavan gave the project the go-ahead on Wednesday.
Spread over 5,000 acres, the Innovation Park, as it is called, is likely to come up between Panvel and Roha in Raigad district. "It will provide employment to nearly one lakh individuals," said the press release. The estimated cost of the project is Rs 10,000 crore.
The Mumbai Metropolitan Region Development Authority (MMRDA), the nodal authority for the project, has planned the hub on the lines of Sophia Antipolis, a technology park in France that houses all facilities scientists need for research and product development.
The Innovation Park will house R&D houses for pharmaceutical firms, defence and internal security, digital media, health, nano-biotechnology, green energy and water technologies, among others, MMRDA sources said. HT had reported, in its November 4, 2009 edition, MMRDA's plans to set up this park.