IT industry set to get a big push

Four projects lined up for launching in next few days are set to create required ecosystem to put Visakhapatnam on the world IT map.

Notwithstanding the dislocation cyclone Hudhud caused to the IT units, in the just concluded financial year the IT industry with HSBC, IBM, Wipro and Tech Mahindra as main players clocked a business of around Rs.1800 crore to Rs.2,000 crore.

Among the four projects, the bottlenecks with regard to land acquisition for Centre for Electromagnetic Environmental Effects (3E) – a R&D campus by Society for Applied Microwave Electronic Engineering & Research (SAMEER) -- have been cleared. The boundary wall construction will begin within a week with the Revenue Department paying compensation of nearly Rs.65 lakh to the aggrieved farmers.

The joint venture between VUDA and Software Technology Parks of India is also moving in a positive direction after a long time for construction of a skyscraper at Siripuram for an incubation centre. VUDA’s equity will be in the form of 1.2 acres. STPI has Rs.16 crore at its disposal.

The building will be showcased as a domain specific innovation centre to attract investments in IT applications required for marine, power and petroleum sectors.

Signature tower

The third project is for finalisation of bids to take up construction of Signature Tower at Rushikonda. A twin tower will be built to make it a world-class iconic tower to showcase Visakhapatnam as a global IT hub.

The IT community is also excited over the identification of four acres near Sunrise Startup Village to launch expansion works.

The foundation stone for all the four projects will be laid in a month or so. An official of APIIC has told The Hindu that Chief Minister N. Chandrababu Naidu will be invited to launch work on these projects one after the other.

Four projects are lined up for launching in a couple of days in the city