Published & Updated as on - 2010-02-17
Ansal API, the Rs 700-crore real estate firm, is
planning to set up an 80-acre biotech park in Lucknow at an investment of close
to Rs 1,000 crore. The proposed biotech firm, expected to be launched by
year-end, would house around 42 biotech firms and a central processing zone
with state-of-the-art facilities including high-tech labs.
According
to sources, Ansal API is in talks with Kiran Mazumdar Shaw-led Biocon Ltd,
besides a few other overseas companies, to set up the central processing zone.
The realty firm is also keen on an exclusive tie up with a single company to
set up this zone, which is proposed to function as a common resource pool for
all other firms in the park.
Biotech Consortium of India Ltd
(BCIL), a consultancy firm jointly promoted by department of biotech, financial
institutions like ICICI, IDBI among others and corporate firms including
Ranbaxy Labs, Lupin Labs, has been commissioned to draw up a detailed business
plan for the project.
This venture would be located amidst
the sprawling Sushant Golf City, a mega township project of Ansal API spread
across around 3,500 acre in Lucknow.
Ansal API’s executive
director PN Misra confirmed the company’s plan to set up the biotech firm.
Commenting on the rationale of investing in a biotech park, Misra said, “Our
association and experience with IT parks has been of great help.
Biotech
is a high growth area and we see a lot of promise in the sector. However, we
are still finalising details of this project”.
The Indian
biotechnology market was valued at $2.86 billion in 2008. Biopharma remains the
biggest sector within the biotech pie, accounting for nearly 70% of the total
revenue in 2008. By 2012-13, the size of the biopharma sector alone is expected
to touch $5.7 billion.
The company estimates that once
completed, the project would employ around 1,500 high-skilled professionals,
while the park is projected to generate another 5,000 direct employment. The
total investment in the park could be in the range of Rs 1,500 to Rs 2,000
crore, of which Ansal’s investment is likely to be in the range of Rs 800 to Rs
1,000 crore, inclusive of the land cost. While a large chunk of investment
involves the land bank that the company already owns, the rest of it would be
met through internal accruals, a company executive said. “The balance would be
invested by companies that become partners in the project.
Source:The
Financial Express 17/2/10
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