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Boost for life sciences park development
  • Published on 2017-11-06

₹300.17 crore sanctioned for acquiring an additional 128.5 acres of land

Boosting the State’s efforts in making rapid strides in biological sciences, the government has commenced activities to launch the second-phase development works of the Bio 360 Life Sciences Park at Thonnakkal.

An amount of ₹300.17 crore has been sanctioned through the Kerala Infrastructure Investment Fund Board (KIIFB) for acquiring an additional 128.5 acres of land for the project that is being undertaken by the Kerala State Industrial Development Corporation (KSIDC). Around 75 acres have already been acquired for the first phase of development activities, Industries Minister A.C. Moideen said, according to an official release.

The Life Sciences Park is being developed on around 200 acres as part of a multi-faceted endeavour to facilitate both research and industrial establishments in striving for advancements in the field of biotechnology. The expedition of preliminary works aimed at operationalising the park is expected to instill confidence and expectations among Keralites who are engaged in life sciences research in various parts of the world, Mr. Moideen said.

The government has also set its sights on establishing another complex, having area of 3 lakh sq.ft., for facilitating incubation, research and pilot manufacturing in biotechnology. Mr. Moideen said that the government has succeeded in ensuring marked progress in the development of the Life Sciences Park. He added that projects worth ₹500 crore will be undertaken in a time-bound manner as part of the first-phase development of the park. Over 1,000 employment opportunities will also be generated through the endeavour, he said.