Govt sitting over $ 4 bn proposal | india | Hindustan Times
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Govt sitting over $ 4 bn proposal

AN AMBITIOUS proposal mooted by International Biotechnology Investment Corporation (IBIC) for setting up a Biotech Park and a Biopharma Campus on 5,000 acres of land on the Lucknow-Kanpur corridor remains virtually forgotten in the official circles.

india Updated: Apr 24, 2006 00:46 IST

AN AMBITIOUS proposal mooted by International Biotechnology Investment Corporation (IBIC) for setting up a Biotech Park and a Biopharma Campus on 5,000 acres of land on the Lucknow-Kanpur corridor remains virtually forgotten in the official circles.

The IBIC proposal to invest $ 4 billion for setting up a “Biotech Park” and “Biopharma Campus” was made during the month of September last year by Jitendra Seth and Paul Uddes, Chairman and Vice Chairman of IBIC respectively while holding deliberations with top UP Government officials, chiefs of premier Lucknow-based scientific research institutions and the CII (Northern Region) representatives who were attending the International Bio-Conference held in the United States.

It may be recalled that the IBIC had put forward a proposal following an announcement made by the top UP Government officials in the United States regarding the State Government intention to develop the Lucknow-Kanpur corridor on the lines of NOIDA and Greater Noida as “Lucknow Industrial Development Authority” (LIDA) in Uttar Pradesh. The LIDA concept was evolved by CII (Northern Region) which was accepted by CM Mulayam Singh Yadav for its immediate implementation in the state.

The State Government through a circular issued on August 1, 2005 had also announced acquisition of total of 83 villages in Lucknow and Unnao districts for the constitution of the Lucknow Industrial Development Authority (LIDA) in the state.

The Managing Director, Uttar Pradesh State Industrial Development Corporation (UPSIDC) was appointed as Chief Executive Officer (CEO) for rapid development of LIDA.

Moreover, the Indian delegation during their visit to the United States also held a series of meetings with representatives of biotechnology companies in the United States who evinced keen interest on developing the already existing Biotech Park in Lucknow besides setting up another “Biotech Park” alongwith a “Biopharma Campus” on the Lucknow-Kanpur corridor in the state.

The state government last year had announced that a total of 40 “investors” from leading biotechnology firms from United States, Canada, Australia and Israel have evinced interest in making investments at the Biotechnology Park, Lucknow.

First Published: Apr 24, 2006 00:46 IST