Observing that tier-two and tier-three cities are going to be the future destinations for Information Technology (IT) industry, vice-chairman of the L&T Hitech City Limited R. Sridharan on Wednesday expressed confidence that Vijayawada would become a developed city in the next five years as a result of expansion of IT industry here.
“In Andhra Pradesh, Hyderabad has already come to a saturation point with regard to the development of IT industry. Now the focus is on tier-two cities like Vijayawada, where the priority is to develop infrastructure and facilities,” he said, addressing a press conference on the eve of inauguration of the first phase of the Hitech City at Gannavaram by Chief Minister K. Rosaiah at 10 a.m. on Thursday.
The L&T Hitech City Limited, a joint venture of the L&T Infocity and the Andhra Pradesh State Industrial Infrastructure Development Corporation (APIIC), commenced the construction of the Hitech City on the 30-acre site at Gannavaram about five years ago at an expected outlay of Rs. 450 crores.
“The Chief Minister will inaugurate the building ‘Medha’ that has a carpet area of 1.75 lakh square feet and constructed at a cost of Rs. 70 crores. We have provided uninterrupted power supply, centralised air-conditioning system, office automation, landscape and communications from all major service providers,” Mr. Sridharan said.
Rate of attrition
To a question, he said that enquiries were coming from several IT companies and some of them, which were based at Hitech City in Hyderabad, were planning to move over here.
“Companies can save expenditure by 25 per cent here as compared to Hyderabad.
“Similarly, there will be a drop in the rate of attrition, as most of the IT professionals are from this region,” Mr. Sridharan observed.
Secretary to the Government (Information Technology and Communications) M. Gopikrishna said most of the special economic zones of the IT industry in the State were located in tier-two and tier-three cities and the works were in progress at many places.