The state has tied up with a US-based company NBS Inc and private investors to set up the proposed park with an investment of about Rs 2,000 crore on 400 acres at Aduwal near Nalagarh in Solan district. Official sources claimed the land had already been provided for the park. The three-phased project will be completed in 10 years. The park will open new avenues for activities in nanotechnology.

Multi-purpose project such as pharmic (DNA diagnostic kit), incubator, health, medical , education activities and BT-based units will be carried out effectively in the park. It will have a critical mass of creative minds that can attract and create a technological culture so that the hill state can compete in global nanobusiness race. After business plan is finalised, the state government will take help of the department of biotechnology, government of India for its seed funding to complete construction of this park.

It is learnt that state government is exploring possibilities of procuring maximum developmental funds from external aided agencies and also preparing detailed project reports under various central-sponsored schemes to strengthen the infrastructural network in the state.