The Hindu Business Line
Avesthagen Ltd on Wednesday began work on its new corporate headquarters and R&D campus on 2.63 acres at the International Tech Park, Bangalore. The 14-storey campus, estimated to cost around Rs 160 crore, will be ready by June 2010. The facility spans four-lakh sq ft.
Avesthagen is developing the property with Singapore-based property major Ascendas, which also owns ITPB, hub for infotech companies, and has built or is developing a host of large IT facilities in Hyderabad, Chennai, Coimbatore, Pune and Gurgaon.
Dr Villoo Morawala-Patell, Founder & CMD of Avesthagen, said at the ground-breaking ceremony, “The centre will provide a fully-integrated technology platform and turnkey solutions for the production of various products to the biotech industry and the scientific community.” Lim Sin Tiow, CEO, India Operations, Ascendas, said, “This project reiterates our commitment to provide a wider range of business options to our customers for their expansion in India’s booming life sciences industry.”
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