Business Daily from THE HINDU group of publications
Thursday, Nov 30, 2006
Info-Tech - Infrastructure
Industry & Economy - Bio-tech & Genetics
States - Tamil Nadu
Ascendas may set up Rs 500-cr bio-IT park in Chennai
The bio-IT park will have three components - facilities for laboratory research, validation facilities and facilities for scaling up the products generated from the laboratories to a commercial scale.
The target market will be drug discovery companies, pure play bio-IT companies, biotechnology companies and IT companies with focus on life sciences.
Chennai , Nov. 29
Ascendas India, a subsidiary of Ascendas Singapore, is likely to set up a Rs 500-crore bio-IT park, an infrastructure facility for life sciences and information technology companies, near Chennai.
According to sources, Ascendas has been short-listed by the Software Technology Parks of India, the nodal agency to promote bio-IT parks.
The process is in the final stages and the State Government agency, State Industries Promotion Corporation of Tamil Nadu (SIPCOT), is to identify land for the project. The location is likely to be Orgadam, near Kanchipuram, on the Chennai-Bangalore Highway, sources said.
Ascendas India, which has expertise in setting up business and IT parks, plans to start work on the project during the course of the next year provided land allocation and the terms of such allocation are agreed upon. It hopes to complete the master planning in six months to one year, according to sources.
Ascendas will be a co-developer in the project, which will include STPI and the State Government in a public-private partnership mode. The STPI scheme is to promote dedicated R&D and manufacturing infrastructure for life sciences, information technology and bioinformatics, that bridge IT and life sciences.
The bio-IT park will have three components - facilities for laboratory research, validation facilities and facilities for scaling up the products generated from the laboratories to a commercial scale. In addition, space will be available for IT companies also, sources said.
To seek SEZ status
Ascendas hopes to get SEZ recognition for the project. With biotechnology, pharmacology and other life science companies looking at India to outsource R&D and contract research the scope for such facilities is large. The target market for the bio-IT park will be drug discovery companies, pure play bio-IT companies, biotechnology companies and IT companies with focus on life sciences.
Ascendas's parent has expertise in setting up science parks. In Singapore, it has completed two phases of Biopolis, with over 2 lakh sq m of built up space for biomedical companies.
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