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International Biotech Park near Pune inaugurated

Our Bureau

Mumbai , Nov. 14

THE International Biotech Park was launched today on the occasion of the Maharashtra Biotechnology Day.

The 110-acre Park would be located at Hinjewadi, near Pune, with a total investment cost of Rs 250 crore, with the Maharashtra Industrial Development Corporation holding approximately 12 per cent of the paid-up capital while TCG Urban Infrastructure Holdings Ltd would retain the balance.

Inaugurating the project, Dr Patangrao Kadam, Minister for Industries & Parliamentary Affairs, said the Park would help make the State "leader in biotechnology sector. The State will support such projects to successfully implement the Maharashtra Biotechnology Policy 2001," he said.

A memorandum of understanding has been signed with IBM's Business Consulting Services to articulate the vision and define the business strategy for the upcoming Biotech Park.

On the occasion, a day-long conference on `New Age Biotechnology in Maharasthra,' was also held.

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