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Kolkata, Sept. 15

A MEMORANDUM of Association ( MoA) for developing a biotechnology park along with an incubation centre was signed here between the West Bengal Industrial Development Corporation (WBIDC) and Indian Institute of Technology (IIT).

The park will be set up at Khargpur on about 100 acres at an estimated investment of Rs.100 crore on a " private-public partnership" basis, aimed at attracting biotechnology industries in the State.

Mr. Nirupam Sen, West Bengal minister in-charge of Commerce and Industries, told presspersons that the MoA was the outcome of the government's policy to attract industrial investments in knowledge-based industries. The proposed park would have infrastructure of international quality, including amenities such as schools, hospital and housing.

IIT-Kharagpur will prepare a concept note on the biotechnology (BT) park using its own technical knowledge and skills. WBIDC, in association with the institute, shall organize two investors' meets in order to identify prospective investors for the park. Thereafter, the corporation will invite Expressions of Interest (EoI) for selection of developers/strategic partners with technical support and guidance of IIT-Kharagpur.

Apart from 100 acres being organised by WBIDC in a compact block , the institute and WBIDC would jointly approach the Union defence ministry for allotment of some adjacent land belonging to the ministry.

(This article was published in the Business Line print edition dated September 16, 2005)
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