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Will Vuda-STPI IT tower project finally take off this year?
VISAKHAPATNAM: At a time when the AP government is aiming to attract investments in the IT sector, the proposal to construct an IT tower for promoting domain-specific innovation at Siripuram by the Visakhapatnam Urban Development Authority (Vuda) and Software Technology Parks of India (STPI) is yet to see the light of day.
Though nine years have passed since the concept of constructing an IT Tower for domain-specific sectors such as marine, power and petroleum was first mooted, officials of Vuda and STPI said the "nitty-gritty" of the project is still being worked out. However, the timeframe for starting the project is yet to be finalised.
According to sources, the Vuda-STPI joint venture for the project is expected to involve construction of a 12-storeyed structure with a built-up area of around 1.5 lakh sft. Initial project cost estimations indicate that the project needs around Rs 25-26 crore for the building, which is slated to come up in the heart of the city.
Speaking to TOI, Vuda secretary GC Kishore Kumar said, "We have written to STPI about the project. They wanted to know the market value of the land, which we have intimated to them. They wanted to again put this up for discussion before their board. Once they come forward, we can go ahead with the project."
"Now, STPI has to come up with a concrete proposal on the cost of the project and the investment required and how it has to be raised. The nitty-gritty is still being worked out," he added.
However, STPI joint director MP Dubey said, "We will be going ahead with the project. Already Rs 16 crore has been allocated for the project. It is likely to be the first of its kind in the country focussing on IT for marine, power and petroleum sectors. There is a lot of interest among companies to come to Vizag. We hope to start work on this project by the end of this year."
"We will also finalise the building design and other details jointly with Vuda. Once the building is completed, it can provide employment to nearly 5,000 people in the city and can easily account for Rs 500 crore per annum exports."
Commenting on the delays in the key project, the CEO of a city-based IT firm said, "The project has been delayed for long. Both Vuda and STPI need to get their act together and push the project forward if we want to have adequate space for bringing IT companies into the city. The state government need to push this project immediately because the funds are already available. Space in the city is scarce and developing this IT tower will give a major boost to firms planning to set up base in Vizag."
News source : http://timesofindia.indiatimes.com/city/visakhapatnam/Will-Vuda-STPI-IT-tower-project-finally-take-off-this-year/articleshow/47313392.cms
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Will Vuda-STPI IT tower project finally take off this year?
VISAKHAPATNAM: At a time when the AP government is aiming to attract investments in the IT sector, the proposal to construct an IT tower for promoting domain-specific innovation at Siripuram by the Visakhapatnam Urban Development Authority (Vuda) and Software Technology Parks of India (STPI) is yet to see the light of day.
Though nine years have passed since the concept of constructing an IT Tower for domain-specific sectors such as marine, power and petroleum was first mooted, officials of Vuda and STPI said the "nitty-gritty" of the project is still being worked out. However, the timeframe for starting the project is yet to be finalised.
According to sources, the Vuda-STPI joint venture for the project is expected to involve construction of a 12-storeyed structure with a built-up area of around 1.5 lakh sft. Initial project cost estimations indicate that the project needs around Rs 25-26 crore for the building, which is slated to come up in the heart of the city.
Speaking to TOI, Vuda secretary GC Kishore Kumar said, "We have written to STPI about the project. They wanted to know the market value of the land, which we have intimated to them. They wanted to again put this up for discussion before their board. Once they come forward, we can go ahead with the project."
"Now, STPI has to come up with a concrete proposal on the cost of the project and the investment required and how it has to be raised. The nitty-gritty is still being worked out," he added.
However, STPI joint director MP Dubey said, "We will be going ahead with the project. Already Rs 16 crore has been allocated for the project. It is likely to be the first of its kind in the country focussing on IT for marine, power and petroleum sectors. There is a lot of interest among companies to come to Vizag. We hope to start work on this project by the end of this year."
"We will also finalise the building design and other details jointly with Vuda. Once the building is completed, it can provide employment to nearly 5,000 people in the city and can easily account for Rs 500 crore per annum exports."
Commenting on the delays in the key project, the CEO of a city-based IT firm said, "The project has been delayed for long. Both Vuda and STPI need to get their act together and push the project forward if we want to have adequate space for bringing IT companies into the city. The state government need to push this project immediately because the funds are already available. Space in the city is scarce and developing this IT tower will give a major boost to firms planning to set up base in Vizag."
News source : http://timesofindia.indiatimes.com/city/visakhapatnam/Will-Vuda-STPI-IT-tower-project-finally-take-off-this-year/articleshow/47313392.cms
This Blog helps you to have a better understanding of STPI scheme, export of IT & software and software services including Information Technology (IT) enabled services/ Bio- IT And other export promotion scheme of Government of India.
You are requested to join STPI Blog for the latest updates, news, RBI guidelines for exporters, FEMA Regulations and other related information.
Become Follower of Our Blog - http://stpi-scheme.blogspot.com/
Join Facebook Group of STPI -
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