Hyderabad, Oct 29: The city-based Bharat Biotech International Limited (BBIL) has been selected by the Orissa government as the 'Developer' for its first Public-Private Partnership (PPP) 'Biotech Pharma IT' project in the state.
The park, to be located at Mouza-Andharua in Bhubaneswar, is estimated to cost about Rs 100 crore and is slated to be completed in eight years. The Orissa government has allocated 54.86 acres of land to the company to develop an integrated industrial park to attract and promote pharmaceutical, biotechnology and information technology industries in Bhubaneswar in the PPP mode.
In a statement, BBIL Chairman and Managing Director Krishna Ella said, ''We are delighted that the government of Orissa has acknowledged our competence and awarded this prestigious project to BBIL. Our task is to focus on rapid development of this park by developing core infrastructure and technology to enable establishment of new companies whereby new local entrepreneurs in the biotechnology field will be created.''
Another 10 acre will be developed within this park to house a Biotechnology Incubation Centre for researchers, entrepreneurs and students. The Department of Biotechnology, Government of India, has assured funding for the equipment/instrumentation of this centre of excellence within the park. Bharat Biotech will provide the necessary building infrastructure.