The INO project is still in 'seeking approval' stage. I had hoped to go see it while here in India but guess am out of luck.
The observatory would be located in disused mining(?) tunnels in the Nilgiris Biosphere Reserve. Tunnels are good because that way we can eliminate cosmic rays and background radiation from messing up the observations. As for detecting the neutrinos themselves, it will help us understand the obscure stuff that this world is made of. What's more, the observations will aid in solving world's climate problem, will resurrect free market capitalism to it's heady Enron days and will levitate scientists - especially the non-believing ones.
If you want to amuse yourself with a Neutrino Detector, try the Super-K.
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"Nothing travels faster than light, with the possible exception of bad news, which follows its own rules." -Douglas Adams
"We should do astronomy because it is beautiful and because it is fun. We should do it because people want to know. We want to know our place in the universe and how things happen." -John Bahcall
"I know all about neutrinos, and my friend here knows about everything else in astrophysics." -John Bahcall
Neutrinos are the most poorly understood particles in the standard model. Remember the standard model?
"I have difficulty to believe it, because nothing in Italy arrives ahead of time."
-Sergio Bertolucci, research director at CERN, on faster-than-light neutrinos