The company is holding discussions with the state government for working out the modalities of its first project outside the country.
We have plans to come in India and set up a nanotechnology park in the northern region. The Himachal Pradesh government has invited us enthusiastically and we are working out the details of the project, chairman and CEO of Nanobiosym Anita Goel from the US told FE.
As per official estimates the project will entail an investment of around $ 20 billion and will be developed by Nanobiosym in collaboration with the Central governments department of science and technology.
The state government has identified over 400 acres of land at Aduwal village near Nalagarh in Solan district for the project. A senior official from the Himachal Pradeshs biotechnology department said, The government of India has in-principal agreed to support the project and we have submitted the business plan crafted by Earnst & Young to them. The business plan is currently being examined and once it is approved MoU will be signed with the company. A delegation from the US is expected to come here early in 2009 and the work is likely to begin by February 2009. The state government will also get a grant of upto 10% of the total investment from the Centre for developing the basic infrastructure of the park.
The nanotechnology park will support the research and development in education and healthcare sectors. Commenting on the nature of the project Anita further added,
We have a vision to develop a unique knowledge-based ecosystem by bringing in cutting-edge technology. India has a huge scope for growth in nanotechnology. The idea is to combine R&D and manufacturing in healthcare segment. By developing nanotechnology devices we want to improve healthcare in the rural areas. Also the young people who aspire to be entrepreneurs will be encouraged to come forward.
Back in the US, Nanobiosym has developed a Gene-RADAR, a portable nanotechnology platform that could rapidly and accurately detect genetic fingerprints from any biological organism.
This innovative technology could give patients worldwide real-time access to their own diagnostic information through low-cost handheld devices that can detect disease from a single drop of blood or saliva. The emerging markets in the field of nanotechnology include Asia, West Asia and Africa besides the US and Europe being the growth drivers, she added.