A 500-acre integrated IT-BT Park is coming up in the Pant Nagar area of the Kumoan region with the state-of-the-art facilities as well as a special economic zone.

The Rs 150-300 crore (US$ 30-65 mn) project will include a biotechnology park spread across approximately 450 acres while the remaining 50 acres would be provided for the IT park.

Ernst and Young has been appointed as a marketing consultant in the project, to scout for companies for investment. Hyderabad-based Ramky Infra Consulting Pvt will be responsible for project designing and mater-planning. Ramky will also oversee the construction of the park and basic services required in the area. Singapore-based Acendas will be the consultant for the IT park, the second of its kind in the North Indian State of Uttaranchal.

The proposed park aims to encourage new biotech enterprises, drive life sciences research, accelerate commercialisation of new technologies, enable biotech organisations to forge alliances and enhance competitiveness of biotech companies located in Uttaranchal.

The Himalayan state is endowed with a distinctly rich bio-diversity (175 of the 500 species of medicinal plants found in the Indian System of Medicine) making it a favoured destination for biotech investments. Also promoting growth in the state are - the availability of quality manpower (72 % literacy), a large number of technical institutes (IIT Roorkee, Forest Research Institute, Herbal Research & Development, regional centres of the National Bureau of Plant & Genetic Resources and the Central Institute of Medicinal & Aromatic Plants, etc.) and an expanding base of small-medium sized life sciences companies.

The Government is also investing in enhancing the region's social and urban infrastructure, including plans to set up an integrated township with modern housing facilities.