Software facility planned at Thotlakonda
HYDERABAD: The Cabinet on Tuesday approved the allotment of 50 acres of land for Satyam Computer Services at Visakhapatnam and 315 acres for Apache Investment Holdings near Tada in Nellore district for setting up product-specific special economic zones (SEZ).
Minister for Information Mohd. Ali Shabbir told reporters that the Cabinet also resolved to sell 50 acres at Thotlakonda Hills near Visakhapatnam to Satyam Computers Services at a concessional rate of Rs. 10 lakhs an acre for setting up a Rs. 100-crore software facility providing direct employment to 2,000 persons. The Singapore-based Apache Investments Holdings, an exclusive supplier of footwear to Adidas seeking to establish a manufacturing unit in the state, would be leased out land for 25 years on a nominal payment. The unit would manufacture 20 lakh pairs of shoes a month, employing 20,000 persons in the first phase, of whom 15,000 would be women.
An MoU signed by the Government with the company recently, provided for the completed facility becoming operational in four years but arrangements were under way by the company to go on stream much earlier, Mr. Shabbir said.