Ticel Biopark has chalked out an investment plan of Rs.120 crore for Phase II development at Taramani in Chennai. The plan envisages the provision of an additional 4.5 lakh sq.ft of space for biotech companies.

For phase II development of the biopark, the promoters - Tamil Nadu Industrial Development Corporation, Tidel Park, and Indian Bank, Karur Vysya Bank and Indian Overseas Bank will be increasing their equity by Rs.60 crore, while Rs.20 crore will come from Software Technology Parks of India and Rs.40 crore for  a term loan. The company has floated tenders to identify the potential engineering consultants for the project which is to be completed in two years.

The new facility will include space for R&D in nanotechnology, a bio-IT park by the Software Technology Parks of India. Cornell University, US has prepared the DPR for the new facility. Besides it will have a Rs.37 crore bio-resource centre housing equipment for biotechnology a company which will be separately funded. It will also serve as a training facility for students and university faculty. Space will also be available for biotechnology covering food, pharmaceuticals and agriculture along the lines of that available in the existing facility.

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