Bangalore Helix, the state-of-the-art biotech park is slated for inauguration during the Bangalore Bio 2007 which kicks off on June 7 and ends on June 9. The total investment of the Park is Rs. 350 crore and is spread over 106 acres at the Electronics City, off Hosur Road in Bangalore.
For the Helix Phase I Rs. 9.76 crore has been spent and six acres were utilized. The National Building Construction Corporation (NBBC) and architects' Jurong, Singapore have been responsible for the First Phase of the Project. The built-up area of Phase I is 250,000 sq ft. . The construction commenced in October 2006 and was expected to be completed in September 2007 according to a 12 month contract. But the facility is now completed in a record time with electrical works flooring and painting to be done, MN Vidyashankar, IAS, secretary, department of Information Technology , Biotechnology and Science and Technology, Government of Karnataka told Pharmabiz. The Phase I is getting ready to accommodate the Administrative Block, Centre for Human Genetics, Institute of Bioinformatics and Applied Biotechnology (IBAB) both presently housed at the ITPL, Whitefield, Bangalore. The IBAB students hostel is also ready. A part of the operations of Karnataka Biotechnology and Information Technology Services (KBITS) will also shift to Helix.
The Phase II and Phase III of the Helix covering 100 acres will have 750,000 sq. ft built- up area is expected to adopt the BOOT (Build Own Operate Transfer) system. The government has identified Alexandria Real Estate Equities Inc, US, who are recognized as the best developer in the world for biotech parks and the face behind 23 such facilities in the United States. The selection was based on a global tender floated by the State government where they proved the winner of the contract from a group of 21 developers .The land will be leased to the developer for 35 years.
"We want to give Alexandria Real Estate the work order during the inauguration of the Bangalore Bio 2007. They are coming with a huge representation of biotech companies from US for the event. Alexandria is a reputed name in Biotech infrastructure. They have promised that half a dozen top US companies will set up their bases in Bangalore , stated Karnataka's IT-BT secretary Vidyashankar.
This is a maiden initiative by Alexandria Real Estates to invest outside US into India and Bangalore. They have taken it up only because they have assessed the potential of the biotech sector in Karnataka, averred IT-BT secretary Vidyashankar.
The Phase II will have 450,000 sq ft build-up area and the timeframe for completion is 18 months, effective from the date of awarding the contract.