'Setting up biotech park not possible'

The setting up of a biotechnological park in Himachal Pradesh with the central government's assistance was not possible as no investor showed interest, Industries Minister Mukesh Agnihotri said on Friday.

No investor has shown an interest in the biotechnological park proposed under public-private-partnership (PPP) mode at Solan district's Aduwal village at an outlay of Rs.39 crore, the minister informed the assembly.

He said the proposal to commission the park was approved in 2005.

"In the park the central government has proposed to invest Rs.9 crore, while the state committed to invest Rs.7.54 crore. The remaining amount was to be invested by the investors," he said.

Agnihotri said the government had received no funds from the central government so far. "We have no land and no money to invest," he added.

"The setting up of the biotechnology park will depend upon various factors such as type of interested investors, business model and overall market conditions," he added.

The proposed park would have a biotechnology incubation centre and a biotechnology industrial cluster.