With all mandatory approvals in place, construction works set to begin in a few weeks
The Software Technology Parks of India (STPI) is all set to begin the construction of the proposed IT tower which was on the cards for the last two years for want of various clearances.
Sources within the STPI have confirmed that all the mandatory approvals such as clearances from the city municipal corporation, financial approval and nod from the Ministries concerned have been obtained, and the construction is scheduled to begin in a couple of weeks.Poll code, a barrier
The foundation stone laying ceremony was slated for March 7, but due to the enforcement of model code of conduct, the idea was dropped. “We are going ahead with the construction works since we have got all the required clearances,” informed the source.Funding
Earlier, construction of two IT towers was proposed, but the STPI is currently going ahead with one on the land allotted by the State government at the Government Polytechnic College. With a floor space of about 50,000 sft, the tower will accommodate around 1,000 professionals per shift. The project cost for each tower is estimated to be Rs.30 crore which is being fully funded by the Union Ministry of Communication and Information Technology, according to a senior officer from the STPI.Plug and play
The estimated execution period of the state-of-the-art facility is one-and-half-years. “There will be facility for plug and play, as well as warm shells will be provided for those who intend to modify the interiors as per their requirement and taste. We shall also provide other facilities such as common date centre, required bandwidth, incubation centre, common conference hall and pantry,” the official, adding that the STPI can provide bandwidth up to 20 MBPS through optic fibre connectivity in Vijayawada.Boost to IT sector
Further, the STPI already has a fully functional incubation centre that houses about 10 start-ups, catering to about 100 seats. The mood in the STPI is upbeat, as enquiries have increased ever since the bifurcation of the State has come through and the feeling that the capital of the residual State may be located close to the city has gained momentum.
Till a couple of months ago, there were three start-ups functioning under the incubation centre and it has already shot up to 10.
The STPI officials feel that Vijayawada has got every potential to become an IT hub and it is just a matter of five to six months after the upcoming elections for things to pick up in a big way.