The IIT-Madras Research Park, promoted by the Indian Institute of Technology, Chennai, and its alumni to provide opportunities for industrial houses to carry out research with the expertise available in the campus, would be inaugurated after the Tamil conference, said M.S. Ananth, Director, IIT, Chennai.
Speaking to The Hindu at Kilakarai near here on Wednesday, he said the total cost of the park was Rs.300 crore. The State government had leased out 11 acre of land to it. Of this, the Centre had contributed Rs.100 crore as loan. A sum of Rs.75 crore was availed from a bank. Remaining amount had been generated from alumni and other sources. The nine-year old dream project had fructified now. The facilities including office space, incubation modules, conference halls, guest rooms, research facilities, exhibition space, cyber cafes and others had been designed in a world class standard.
Mr. Ananth said the construction of the park, which was incorporated under the Companies Act, had been completed and it was ready for inauguration. Top leaders of the State and Centre would be invited for the inauguration.