The Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) has decided to set up a biotechnology park in the state. According to sources, the package has been launched to cash in on the boom in biotechnology.

RIICO may offer land at 60 percent discount in designated biotechnology zones to companies having a turnover of over Rs 100 crore. To avail the concession, companies would have to make a minimum fixed investment of Rs 10 crore on the allotted land within four years from the date of allotment. Each company should have at least five acres of land in the biotech zone to qualify for concessional rates.

The investor would get an extra discount of 10 percent if commercial production starts within three years from the date of allotment of land. Those wishing to start advanced biotech and bioinformatic educational institutes offering technical graduate and post-graduate courses would be given land at 50 percent of the prevailing industrial rate.

Rajasthan has so far not attracted any major biotechnology player. Biotech activity in the state is mainly confined to the University of Udaipur which conducts research projects, University of Rajasthan which offers courses in B.Sc. (biotechnology) and BITS at Pilani which conducts M Tech (Biotech) course.