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Multi-billion dollar JV project blinded with science.

SAN DIEGO: Silicon Border Development and ING Clarion Partners announced they have finalized collaboration and financing plans to build a large, state-of-the-art science park specifically targeting solar, LCD, nanotechnology, aerospace, and semiconductor companies. The Silicon Border Science Park, located in Mexicali, Baja California, Mexico, has already begun to attract leading edge companies in these markets.

Silicon Border recently announced an investment of up to $3.5 billion from Q-Cells, the world's largest independent solar cell manufacturing company. The park will become the cornerstone to turn Mexicali, Mexico and the Southern California region into a dominant player in the aforementioned markets. Additionally, the park's location provides a gateway for North America to become a global leader in capital intensive, high technology manufacturing.

Silicon Border's initial focus is to create and build out its solar cluster. It is expected that a portion of the solar products will stay in this region and be used to build solar power plants. Ultimately, Silicon Border's customers and utilities in the Baja, Calif./southern California region will conceptualize, design, manufacture and use these products. The goal is to make the region a worldwide destination for those participating or seeking to participate in solar technology.

Silicon Border Science Park enables the rebirth of science based manufacturing on the North American Continent. It is the kernel around which scientific and technology clusters grow along the border of California and Baja California.

Science parks differ from industrial parks because they are designed to house everything required for leading edge manufacturing. In addition to special electrical infrastructure and plumbing for water, the Silicon Border Science Park will be laid out similar to a college campus and will feature a university, technical training and research facilities, as well as recreation facilities and a clubhouse in which employees, executives, and academia can interact. The park will be modeled after science parks in Asia and is expected to be the first of its kind in North America. Additionally, the border location enables the cost structure to be competitive with those throughout Asia.

The Silicon Border Science Park is a joint venture and is being developed in four phases. The first is currently underway and is expected to be complete January 2009. The infrastructure for the first phase will cost $35 million. The remaining three phases will be created and completed over a 10-year period. ING, besides providing the capital for infrastructure, also offers build-to-suit leases to companies interested in the park. Silicon Border Development is responsible for the marketing of the project and the management of the Science Park.
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Title Annotation:NATIONAL ROUND-UP
Comment:Multi-billion dollar JV project blinded with science.(NATIONAL ROUND-UP)
Publication:Real Estate Weekly
Geographic Code:1MEX
Date:Oct 22, 2008
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