UEM Land strategic marketing and corporate communication director Zulkifli Tahmali said the two companies are expected to sign a joint-venture agreement in the next two months.
"We have matters of land, infrastructure, facilities as well as equity to finalise before we can sign the documents," he told reporters attending the 2009 BIO International Convention here yesterday.
UEM Land is part of the Malaysian delegation participating at the Bio 2009 Atlanta, the largest global event for the biotech industry, to promote the upcoming BIO Malaysia 2009 in November and the proposed biotech park in the Iskandar Malaysia, called "Bioxcell".
UEM Land hopes to start construction on the biotech park by the end of the year.
"We will stay true to our developmental expertise and focus on the project and facilities management, while BiotechCorp will bring in the biotech expertise," Zulkifli said.
The proposed biotech park will house not only shared facilities such as offices and incubators, but also graduate facilities.
Zulkifli said about 50 per cent of the area will be allocated to contract manufacturing companies. It is expected to house 20 to 30 companies of various sizes.
"The proposed biotech park in Nusajaya will benefit from its close proximity to University Technology Malaysia, a biosciences institution as well as Singapore's advanced biotechnology industry, and pool of human capital. Bioxcell would be able play a complementary role to the research park which has positioned itself as the place for cutting edge technology," Zulkifli said.
He added that the development of a biotech park in Nusajaya will have tremendous spillover effects on the entire development of the area, contributing towards making the development a success.
Nusajaya is a 9,600ha development, which is currently home to eight signature projects.
By Business Times (by Presenna Nambiar) (Posted on 22May2009)
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