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Biotechnology policy to boost investment
Friday, 11 June 2004, 19:30 IST
JAIPUR: In a bid to attract investment in biotechnology, Rajasthan plans to announce an investor friendly policy offering special concessions to prospective entrepreneurs.
Highly placed sources in the state government said the policy was being worked out and would be on the lines of similar plans in Andhra Pradesh and Karnataka where lucrative incentives are being offered.
A state rich in bio resources, Rajasthan has tremendous biodiversity and has the highest livestock population offering potential for animal husbandry and genetic engineering.
The state could create immense industrial activity in biotechnology and modern biotech products involving recombinant DNA based products and bio informatics, sources said.
Accordingly, the state's development and financial institution, Rajasthan Industrial Development and Investment Corporation (RIICO), is considering developing state of the art biotech parks in Jaipur, Jodhpur and Bhiwadi.
RIICO would develop high-class infrastructure in terms of developing plots, providing continuous power, high-speed data facility, roads and common testing facility in these parks to be set up on 30 acres.
The corporation has already decided to offer special land packages for attracting biotechnology and bio-informatics industries in the state.
RIICO has reportedly decided to offer land at 40 percent of the prevailing industrial rate in specially designated biotechnology zones to companies having a turnover of over 
1 billion.
To avail of the concession, the companies would have to make a minimum fixed investment of 100 million on the allotted land within a period of four years from the date of allotment.
General biotechnology and bio-informatics units would be allotted land up to five acres in specially designated zones.
Source: IANS
1 billion.
To avail of the concession, the companies would have to make a minimum fixed investment of 100 million on the allotted land within a period of four years from the date of allotment.
General biotechnology and bio-informatics units would be allotted land up to five acres in specially designated zones.
Source: IANS