Karnataka CM lays foundation stone for Rs 5000 cr Bengaluru Lifesciences Park

B S Yediyurappa, Karnataka Chief Minister laid the foundation stone for the Rs 5,000 crore Bengaluru Lifesciences Park yesterday and assured that the government would take necessary steps to ensure that the state emerges as the ‘BT Hub’. He also said the government would extend support on priority basis to the biotechnology sector, calling it the ‘power’ of the state’s economy.

“We have already implemented many reforms and an industry-friendly environment has been created. We shall give more importance to commerce and industry,” he said.

The Bengaluru Lifesciences Park, which will come up on 52.27 acres, is a project is being set up under a PPP with the Government of Karnataka and Labzone Corp.

The first phase is expected to be completed by December 2022.

“The Bengaluru Life Sciences Park will help in expanding the perimeter of the state’s biotechnology sector. I am confident that this park will give a unique gift to Bengaluru, which is already known as the BT Capital of India. The state government has released a grant of Rs 150 crore towards this project,” Yediyurappa said.

He also said that this project will generate employment for more than 50,000 (direct and indirect) people, adding that it would make a significant contribution to the state’s economy.

Deputy Chief Minister, C N Ashwath Narayan, who is also the minister for IT/BT & Science and Technology Department was also present at the occasion. He said that the time has come for setting up of the Bengaluru Lifesciences Park, which was envisioned 20 years ago. He also informed that the government has worked towards creating an investor-friendly atmosphere in the state.

Reportedly, the park will house more than 150 companies and more than 100 start-ups will be established.

(With edits from EP News Bureau)