Oommen Chandy, chief minister of Kerala has laid the foundation for the Kinfra Biotech Park at Kalamassery near Kochi. The park set up by Kinfra would be a combination of a technology incubation center providing modules for R&D in biotechnology, a pilot plant, and a business enterprise zone comprising developed plots to be utilized to set up industrial units. Speaking after laying the foundation stone, the chief minister said that Kerala had become a favorable destination for investment after the Global Investors' Meet."However, this atmosphere should fully be exploited by attracting more and more investors to the state. The development of the agriculture sector acquires momentum in the era of globalization and liberalization. For this, biotechnology has to play a vital role for its development. Therefore, the government has decided to give equal preference to biotechnology and IT," he said.