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More space: A view of the Ticel Biopark in Chennai

R. Balaji

Chennai, Jan.22 Ticel Biopark Ltd, the infrastructure facility for biotechnology R&D, is set for a Rs 120-crore expansion to provide an additional 4.5 lakh sq.ft of space for biotech companies.

According to those associated with the project, the scope of the expanded facility, for which Cornell University of the US compiled the project report, is being widened to offer more than R&D laboratory space for biotechnology.

The new facility will include space for R&D in nanotechnology, a bio-IT park by the Software Technology Parks of India, and a separately funded Rs 37-crore bio-resource centre housing equipment that biotechnology companies across the State can use.

It will also serve as a training facility for students and university faculty. Space will also be available for biotechnology covering food, pharmaceuticals and agriculture along the lines of that available in the existing facility.

Ticel Biopark is a public sector enterprise funded by the Tamil Nadu Industrial Development Corporation, Tidel Park Ltd, a software park, and three commercial banks — Indian Bank, Karur Vysya Bank and Indian Overseas Bank.

They have together brought in Rs 9-crore equity for the first phase of Ticel Biopark which was set up at a total cost of Rs 54.76 crore.

For the expanded facility, the promoters are to hike the equity by Rs 60 crore, apart from Rs 20 crore from STPI and a term loan of Rs 40 crore.

Tenders have been floated for identifying engineering consultants for the project which is to be completed in two years. The second phase is to come up adjacent to the Ticel Biopark which is set in a five-acre plot at Taramani close to the IT corridor.

The bioresource centre is a feature that will not only be a common infrastructure facility but also a training ground that will strengthen the biotechnology courses on offer at academic institutions across the State.

The facility will be operated and maintained by the academic institutions, including the Anna University, Agriculture and Veterinary Universities and the University of Madras.

More Stories on : New Projects | Bio-tech & Genetics | Tamil Nadu

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