Hyderabad, May 31
The foundation stone for the multi-million dollar Fab City project would be laid next week, the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, announced here on Wednesday.
The ambitious project which would give a semiconductor manufacturing base for the country is to come up near the upcoming international airport at Shamshabad on the outskirts of Hyderabad, and is being piloted by a consortium led by SemIndia.
The AP Government has already signed an MoU and provided the necessary land and assured the facilities required, the Chief Minster said at a function organised to lay the foundation for Mindspace, an IT park to be developed by K. Raheja Corp near Pocharam.
Dr Reddy said the outer ring road project taken up by the State Government would trigger massive housing projects and satellite colonies, which would lead to decongestion in the city. He also formally inaugurated the `Sanskruti Township', developed by the AP Housing Board (APHB) in Pocharam.
To be built in stages over the next few years, Mindspace Pocharam will eventually have a total built-up space of about 6 million sq. ft. similar to other Mindspace projects of the K. Raheja Corp in Mumbai. The Mindspace at Pocharam, will also house offices of some of the leading corporates and is expected to create more than a lakh job opportunities by the time it is completed.