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Five major realty investment players have shown interest in the fresh bid called to develop the 56-acre biotechnology SEZ outside Bangalore, the Helix, a senior bureaucrat said.
The State Government recently floated the bid, the fourth time in four years, and held a pre-bid meeting to select a developer for what it hopes will be the country's star biotechnology showpiece.
Pre-bid meeting
Mr Aravind Jannu, Director, IT and Biotechnology and Managing Director of the nodal agency KBITS (Karnataka Biotechnology & IT Services), said the US company Alexandria, Hyderabad-based Ramky Infrastructure; Bharti Realty; Otra Technologies and Bangalore's Beary's Group attended the pre-bid meeting.
The eventual winner of the project would be investing a minimum of Rs 250 crore to develop 3 lakh s.ft of area or 60 per cent of phase 2 of the park over at least five years, Mr Jannu told Business Line .
Five responses was a fair number and KBITS hoped to take Helix forward this time, he said, adding, “the companies are to submit the technical and financial bids by April 18. We would like to finalise the winning bidder and go before the Cabinet for final approval by May-end.”
Karnataka is home to half the country's 370-odd biotech companies, including Biocon Ltd, the leader by revenue in 2010.
It wants to draw many more research, manufacturing and services companies to Helix, located at Electronics City near the highway towards Hosur.
SEZ status
The first three companies of the latest round showed up for the State's third attempt of June 2009; but the Government had to pull back as only Alexandria remained in the fray. Helix was first bid for in early 2006 but the chosen consortium - Alexandria Real Estate Equities Inc. and TCG Urban Infrastructure Holdings Group - fell out.
The earlier second bid, also in 2009, coming in the wake of the economic meltdown, drew a blank.
This time round, the developers can retain the SEZ status of the park or have it de-notified.
The State Government provides the land on a 60-year lease and the developer is to pay the land premium.
The smaller 20-acre Phase 1 already houses State-owned institutions - Institute of Bioinformatics and Applied Biotechnology and the Centre for Human Genetics.
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