TN begins work on Ticel Biopark phase 11

CHENNAI: As part of the Tamil Nadu government���s efforts to give an impetus to knowledge-based industries like biotech, it commenced work on the the second phase of Ticel Biotech Park at Taramani in Chennai.

Ticel Biotech Park is a joint venture of Tamil Nadu Industrial Development Corporation (TIDCO) and Tidel Park. The new facility is estimated to cost Rs 120 crore with a built up space of 6 lakh sq ft .

State Deputy Chier Minister, M K Stalin laid the foundation for Ticel Biotech Phase II on Wednesday in the presence of senior officials and industry representatives. It is to be completed by 2011, providing employment for 1500 scientists with a fresh investment of Rs 500 crore by the units.

Taamaesek Engineering Consortium has designed the building for the new park and civil contractor will be selected shortly, an official release said. The lab module is designed to have a minimum area 2400 upto a maxium of 30,000 sq in each floor for establishing R &D facility by clients.

Tidco and Tidel park have proposed to invest Rs 20 crore and Rs 40 crore respectively as equity in the second phase of Ticel. In addition, STPI has proposed to invest Rs 20 crore in the equity. The balance Rs 40 crore is to be raised as term loan from financial institutions.

Ticel Phase I entailed an investment of Rs 54.76 crore and was built with a lab space of 1.5 lakh sq ft in technical collaboration with Cornell University, US. Some key clients operating in Ticel Biopark include the Central Leather Research Institute, Huclin Research, HLL Lifecare, EID Parry and SGS India.

There is also a proposal to establish Ticel Biotech park III at an investment of Rs 70 crore once the second phase is completed. All the three bio parks would have an area of 11 lakh sq ft for promoting research and development activities.