IT Minister Palle Raghanatha Reddy on Monday said a decision would be taken soon on reviving efforts for construction of Signature Tower.
Despite attempts to seek financial and technical bids through global tendering, none responded for construction of Signature Tower at Rushikonda on the land resumed from Kennexa. The poor response was attributed to exorbitantly high revenue sharing pattern proposed for the project conceived to be taken up under PPP mode.
Mr. Reddy, who visited the IT Special Economic Zone at Rushikonda, held discussions with officials including CEO of AP Electronics & IT Agency V. Srinivas Moorthy and said a decision on floating tenders for construction of Signature Tower would be taken shortly. Signature Tower proposal was cleared by Chief Minister N. Chandrababu Naidu at CEOs’ Conclave held in the city on September 29, 2014 where he declared that it would be built as an icon with better designs and architecture than the Cyber Towers of Hyderabad. Mr. Reddy said the construction of Millennium Tower opposite the Innovation Park was going on at full swing. It would be completed by September, 2018. The tower will have three lakh sft and provide jobs to 3,000.
Earlier, the Minister visited the newly opened Sunrise Startup Centre. He said 26 units had been allotted space for creating job opportunities for 120.
Stating that they were focusing on e-transactions and development of mobile apps, he disclosed that the work on Electronic Manufacturing Cluster would start soon on nearly 100 acres allotted at Gurrampalem near Pendurthy. The Minister said they had already allotted space to IT firms at space taken on lease by the government at VUDA building, Seetammadhara and private building on VIP Road.
