The park, being promoted by Industrial Credit and Investment Corporation of India (the promoters of ICICI Knowledge Park), will house state-of-the-art laboratory facilities for research and development in agricultural, horticulture, environmental, waste management and other allied fields of bio-technology.

Disclosing this to newsmen after a meeting of the state cabinet on Wednesday, Chief Minister N Chandrababu Naidu said the project would cost Rs 87.35 crore and the state government would hold an equity participation of 20 per cent in it.

It was decided to allot 160 acres adjacent to the Knowledge Park for the project and those willing to participate in the venture would be given a host of concessions including tax holiday upto seven years apart from waiver of registration and stamp duties. A committee of secretaries would be constituted shortly to ensure speedy clearance of the proposals and expediting the process of setting up the park.

Stating that his government was committed to promoting world class human resources in Andhra Pradesh, the Chief Minister said it was high-end technologies which would play a significant role in the development of the state in the next millennium.

The Cabinet also approved a proposal for setting up of a Centre of Excellence of international standards by Agastya International Foundation, a voluntary organisation promoted by experts from within the country and abroad, at Gudipalli village in Kuppam constituency in Chittoor district. The government would alienate 170 acres in favour of the foundation at the rate of Rs 5,000 per acre.

The school would offer Centre of Academic Excellence, Centre for Culture and Philosophy and Teachers Training Centre.

Underlining the importance of manpower planning, the Chief Minister said that vice-chancellors of different universities in the state had been asked to identify education needs of the next millennium and prepare action plans for promotion of quality education.

On the agenda for swarnaandhrapradesh being prepared by task forces and the cabinet sub-committees, Naidu said the status papers would be placed before the people during the next round of Janmabhoomi beginning January 3. The Janmabhoomi programme would be conducted for 10 days this time instead of seven days.

The Cabinet also approved payment of Rs 8.89 crore towards the state's share of comprehensive crop insurance scheme for farmers, sanction of Rs 3.22 crore for setting up agricultural polytechnic colleges at Anakapalle and Palamaner from the next academic year and sale of a government distillery at Kamareddy, which had been declared a sick unit, to a private firm.

The report of the Padmanabha Goud Commission of enquiry which was appointed to probe the death of three persons -- B Srisailam Goud, B Lingaiah and K Devender -- near a police station at Mahboobabad in Warangal district last year has also been accepted by the government. The panel termed the death of the three persons as suicide and ruled out the involvement of police personnel, Naidu added.