Search the Internet          Tips  Sites: Finance, Investment

ICICI launches phase II of the Rs 410 million Knowledge Park

Syed Amin Jafri, in Hyderabad

The ICICI on Sunday announced the launch of the second phase of ICICI Knowledge Park at Turkapally near Hyderabad.

ICICI chairman N Vaghul said infrastructure facilities would be created for locating 10 modular laboratories under the second phase of the Knowledge Park at an estimated outlay of Rs 100 million.

Under the first phase, the Knowledge Park provides facilities for locating 10 state-of-the-art modular laboratories.

Already, seven of these labs have been allotted to parties while negotiations are on with other companies for leasing out the remaining three labs to them. The first phase of the project cost Rs 310 million.

The Knowledge Park, located on a 200-acre site provided by the state government, provides hassle-free environment to business-driven research in knowledge intensive sectors such as pharmaceuticals, biotechnology, information technology, telecoms, new materials et al. The work on the third phase will start in 2003.

Vaghul said more and more companies were keen to set up their R&D units at the Knowledge Park, which is the first of its kind in the country.

Medicorp Technologies India Limited, Pulsar Electro-Optics Limited, Bajam Biosciences Limited, Kerbs Biochemicals Limited, BioServe Biotechnologies India, Indian Institute of Chemical Technology and Maanya Biotech Limited have set up their units at the Knowledge Park so far.

The ICICI Knowledge Park celebrated its second foundation day on Sunday.

Andhra Pradesh Chapter of Enterprising Pharmaceutical Professionals from the Indian sub-continent was also launched on the occasion.

EPPIC is a non-profit organisation formed by Indian pharmaceutical and biotechnology experts in the United States to promote networking and entrepreneurial mentoring of pharma, biotech and related industries and researchers in like disciplines.

Hailing the pioneering concept of Knowledge Park, Dr R A Mashelkar, director general of Council of Scientific and Industrial Research, said this networking of knowledge would go a long way in the development of science and technology in the country.

He pointed out that the Department of Science and Technology has signed a MoU with Knowledge Park for setting up a Virtual Information Center.

Mashelkar said India, with its vast bio-diversity and genetic diversity, has a distinct advantage in the biotech sector.

He said at least 10 states were keen to develop biotech parks and they were in the process of formulating biotechnology policies.

He said CSIR laboratories would provide the networking for such parks.
Money
Business News

Tell us what you think of this report