Tag Archives: Bangalore biotechnology park

Alexandria to invest Rs 500 cr on BT park

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india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Bangalore biotechnology park, karnataka biotech park, Bangalore Real EstateUS-based real estate developer Alexandria’s Indian arm — Alexandria Real Estate Equities Inc is planning to invest around Rs.500 crore to develop a biotechnology park in Bangalore.

This proposed park, which will come up at Electronics City, will be developed in two phases. While about Rs.500 crore will be invested in the first phase of development of the park, further investment will depend on the demand for space by biotechnology companies in the biocluster.

“We have formed a special purpose vehicle, Alexandria Labspace-Electronics City Private Ltd to set up the biotechnology knowledge park in Bangalore. The purpose of setting up the park is to provide good lab space to biotechnology companies, both from pharma and agri-biotech side,” Vishal Goel, Country-Manager-India of Alexandria said on the sidelines of laying the foundation stone for the project.

He also said the project will be completely funded from company’s internal accruals.

Alexandria has won the bid in May to set up this biotechnology park from Karnataka government, which has been leased to it for 60 years. The mandate of the park is to give state-of-the-art lab space to start-ups along with big companies in biotechnology sector to facilitate cutting-edge research and development.

“We have not started discussions yet with biotech companies. However, we are hopeful of getting a sound response from pharma and agribiotech companies for setting up R&D units in this biocluster,” Goel added.

Indian biotechnology sector is expected to touch $10 billion by 2015 on the back of emerging opportunities in the various verticals, namely biopharma, agri-biotechnology, industrial biotechnology among others.

As per a recent survey by BioSpectrum and Association of Biotechnology-led Enterprises, the biotech industry has posted a 21.5 per cent rise in revenue to reach Rs.18,399.34 crore ($4 billion) in 2010-11 on the back of sound growth in biopharmaceuticals and agribiotech sector.

While biotech industry contributed Rs.17,249.34 crore, around 94 per cent of the total revenue; life science education contributes the rest Rs.1,150 crore during this period.

As per the survey, biopharma sector saw revenues of Rs.10,465 crore (about 57 per cent) and bioservices sector contributed Rs.3,246 crore. Meanwhile, the share of agri-biotech stood at Rs.2,480 crore, bioindustrials at Rs.626 crore and bioinformatics at Rs.252 crore in this period.

BioPharma vertical contributed almost two-fifth to the industry revenue, followed by bioservices with 18.82 per cent and bioagri with 14.38 per cent during this period.

Bioindustrials and bioinformatics made up the rest of the industry revenue,” the survey said.

It also said that bioagri has increased its market share to over 14 per cent from five per cent in the last five years with five bioagri companies now being part of BioSpectrum-ABLE top 20 list.

The survey also pointed out that the industry derived 51 per cent of the overall revenue from exports in the last financial year.

It is to be noted that biotechnology industry, which is pegged at $4 billion; around 40 per cent is contributed from Karnataka.

“Bangalore hosts 52 per cent of core biotechnology companies in the country and around five top biotech companies are in the city. It shows the favourable ecosystem for biotechnology industry in the state. This park will add to our efforts to boost growth of this industry in the state,” B S Yeddyruppa, Chief Minister of Karnataka said at the launch ceremony.

He also said that the state was about to open four biotechnology parks in various parts of the state.

Presently, the state is promoting biotech finishing schools in order to create skilled work force for the industry.

“Around 12 finishing schools are currently imparting required skill to the students for creating pool of employable professionals in the state,” he said.

Referring to the development of biotechnology sector in the state, Kiran Mazumdar-Shaw, chairman of Biotechnology Vision group of Karnataka said that the knowledge park would be beneficial for promoting research work by start-ups.

She also said that the momentum should be maintained as far as biotech ecosystem is concerned in the state.

Alexandria wins bid to build Bangalore’s biotech park

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Bangalore biotechnology park, karnataka biotech park, Bangalore Real Estate, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Mumbai Real Estate, India PropertyThe Karnataka government has announced that Bangalore Helix, the much-awaited biotechnology park, has been awarded to Alexandria Real Estate, the highest bidder.

The government declined to disclose the amount of the highest bid and the identities of others who had bid for the project.

Chief minister BS Yeddyurappa handed over the letter of intent (LoI) to Vishal Goel, Managing Director of Alexandria, on the occasion of the 11th edition of the Bangalore India Bio, 2011.

“The project will be completed in two years and the work is going to start from October. We are listed on the New York Stock Exchange and have a good presence in the US. We hope to leverage this and invite companies there to set up their base here,” Goel said newsmen.

Bangalore Helix will see an investment of Rs500 crore where the developer will be responsible for bringing in global companies to set up their offices here.

The chief minister said that biotech sector is in a comfortable position both in terms of growth and revenue. Yeddyurappa, who had promised Rs1-crore fund for 12 biotech schools across Karnataka, gave out cheques for Rs50 lakh each.

He highlighted the fact that Bangalore is home to five of the top 10 biotech companies in India.

Kiran Mazumdar-Shaw, chairperson, Karnataka Vision Group and CMD Biocon, said the world faces food shortages and spiralling healthcare costs, and there is over dependence on fossil fuels.

She reiterated that biotechnology is the future and India can deliver product for global benefit. “Partnering and collaboration is the way forward and it is not possible to grow in isolation,” she said.

French ambassador to India Jerome Bonnafont said, “India is very important to France as a partner and back home we are giving extensive support to biotechnology firms. For instance, we have given exemption to companies in research as we believe that R&D should be tax free,” he said.

Freddy Svane, ambassador of Denmark to India, said Bangalore was clearly the city of innovations. “I want to thank the queen (Kiran Mazumdar-Shaw) and invite her to our small kingdom. You are welcome to our kingdom,” he said.