Financial Daily from THE HINDU group of publications
Friday, Apr 14, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 14, 2006 |
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Info-Tech
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Infrastructure States - Andhra Pradesh IT zone planned on Vizag outskirts Our Bureau
Ideal destination Fast-track approvals will be given to entrepreneurs with two years experience with a workforce of 200 in their units. The district administration has been advised to identify a few probable sites free from any dispute or controversy.
Visakhapatnam , April 13 In a bid to project Visakhapatnam as an ideal alternative to Hyderabad for IT projects, the State Government is planning to set up an exclusive zone on the city outskirts on an area of 300 acres. "The exclusive zone will have world-class infrastructure. As several big players are approaching us for land, we want to allot them space in future at one place keeping in view the criticism over location of some units in Buddhist sites," a senior official said. The zone is expected to attract investments worth Rs 200-300 crore in the next two to three years. Fast-track approvals will be given to entrepreneurs with two years experience with a workforce of 200 in their units. Senior officials from Hyderabad will be here to finalise a site for the zone after the Visakha-I Assembly bye-poll scheduled to be held on April 24. Officials of Information and Communication Department feel that incentives such as 100 per cent income-tax waiver for 10 years, waiver of central excise and Customs duty on import of equipment and other tax benefits will go a long way in wooing IT players to the proposed zone. The district administration has been advised to identify a few probable sites free from any dispute or controversy. Wipro has already sought 50-70 acres for setting up a training centre. Tata Consultancy Service and Infosys have also shown inclination to start their operations in and around Visakhapatnam. An exercise has already been launched for the development of IT parks atop two hillocks at Rushikonda overlooking the sea. The parks will be given the status of special economic zones and the Visakhapatnam Urban Development Authority has been asked to finalise the layout on an area of 100 acres. Construction work is on at a brisk pace at the TB hospital land after allotment of 6.55 and 7.14 acres respectively to Satyam Computers and Wipro. While Satyam wants to complete the construction work by the year-end, Wipro is scheduled to make its unit operational by December, 2007. Both of them will have BPO centres in the city. It is projected that exports from IT units located in the city, currently Rs 70 crore, will be in the range of Rs 700-900 crore by 2009. Two IT parks are proposed near Harbour Park and Yendada for smaller entrepreneurs.
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