Business Daily from THE HINDU group of publications
Tuesday, Jun 05, 2007
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Business Daily from THE HINDU group of publications Tuesday, Jun 05, 2007 ePaper |
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New Business Industry & Economy - Bio-tech & Genetics TCG-led team wins bid for Helix Our Bureau
Bangalore, June 4 A consortium of US developer Alexandria Real Estate and TCG Urban Infrastructure Holdings (of The Chatterjee Group) has won the bid to develop the Bangalore biotech park, Helix. The team was among 24 contenders who had bid for the bio park. Over the next two years, it will develop 7.5 lakh sq ft of space on 106 acres of land at Bangalore's Electronics City phase 3. The phases 2 and 3 of the park (phase 1 is almost done) are estimated to cost Rs 550 crore, according to Mr M.N. Vidyashankar, Secretary, IT, Biotechnology, Science & Science & Technology. The ongoing phase 1, being built by the National Buildings Construction Corporation and Jurong, will be inaugurated in July. It will house the Institute for Bioinformatics and Applied Biotechnology (IBAB) and the Centre for Human Genetics. The work order for Phases 2 and 3 to Alexandria will be given in July. The facility will house incubation centre, an animal house and a convention centre among others. It is set to have 100 tenants from the industry.
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