The Hindu Business Line : Biotech park aims to attract Rs 1,000-cr investments

TICEL Bio Park, a biotech park promoted by the Tamil Nadu Government, is expected to serve as a catalyst for investment of about Rs 1,000 crore in the State over the next two years, said park officials.

TICEL is to be formally inaugurated by the Chief Minister, Ms J. Jayalalithaa, on November 10. Currently, the park has three tenants who have taken up about 28 per cent of the available space.

TICEL's Managing Director, Mr K.R. Viswanathan, said the Rs 62.5-crore park would offer companies' space as well as research and development services. The R&D support service managed by TICEL has labs for molecular biology and tissue culture. The Central Leather Research Institute and Vimta Labs run them. Mr Viswanathan said that TICEL would also get involved in training and development of intellectual property.

TICEL had received "good expression of interest" from companies. It is primarily interested in leasing space to entrepreneurs. In some cases, the company is open to selling space in the park.

Currently, SGS India (promoted by a Swiss company), Vimta Labs and Frontier Life Sciences have leased space. The park, which received technical collaboration from Cornell University in the US, provides space in the form of 72 modules, each spread over 915 sq.ft. TICEL Bio Park offers bio safety of Level 2 (air-conditioning unit would draw on fresh air about 12 times in an hour).

A scientific advisory committee headed by a scientist from Indian Institute of Science, Bangalore, said Mr Rameshram Mishra, Secretary, Industries Department, guides the park.

TICEL Bio Park cost Rs 62.5 crore and was completed in 17 months. The equity component stands at Rs 9 crore.Indian Bank, Bharat Overseas Bank and Karur Vysya Bank have taken equity stakes in the park.

He said that TICEL currently charged a rental Rs 55 a sq.ft. In the event, a company wanted to buy space, it would come to Rs 5,000 a sq.ft

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