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Vizag IT Hill-4 gets a shape as activity picks pace

Vizag IT Hill-4 gets a shape as activity picks pace

While significant activity in the Information Technology industry in Vizag has been missing for at least the last three years, a new signboard erected on the Kapuluppada hill, coined as IT Hill-4 of APIIC Knowledge Park in Madhurawada has made the sector optimistic about the progress now. Change in the ruling party, delay in the release of new IT policy by the government and later the pandemic had stalled the IT activities in Andhra Pradesh.

This development of an ambitious big-ticket project brightens the hope and will give a shot in the arm to efforts to promote Brand Vizag. Speaking to Hello Vizag, a senior official of APIIC said that as part of the project, the data park and business centre proposed by Adani Enterprises Ltd, an integrated centre of asset management company Franklin Templeton and an industries enablement centre, Sentinel Towers and a guesthouse to accommodate top officials and guests will come up in the area. “Ultimately the site chosen for the ambitious project is on Hill No 4 of Madhurawada here.

The project site is located opposite Panorama Hills, a high-end gated community and close to IT Special Economic Zone and Rama Naidu Film City and the panoramic Visakhapatnam-Bheemili beach road. In the near future, more investments are likely in the area in the coming days, he added. In the recent past, the government sought proposals on the development of 10 acres for building industries enablement centre, Sentinel Towers on the lines of Millennium Tower to make it a Signature Tower of Visakhapatnam, the proposed executive capital of AP.

Some IT Hill employees said APIIC is putting up the new boards on the hills and the new one springing up on the Kapuluppada Hill. In a major thrust to its project, Adani’s solar-powered ‘Integrated Data Centre Park and Technology/Business park’ was listed in the stock exchange as Vizag Tech Park Ltd (VTPL). With this development, the share value price of Adanis’ increased in the stock market soon after it incorporated VTPL.

Adani’s data park project and a development centre by Franklin Templeton with a promise to provide job opportunities for financial and analytics professionals had hit a roadblock after the YSRCP Government was formed in 2019. As a matter of fact, the stones for both projects were laid in 2018 when TDP was in power. But, after protracted negotiations, the Adani Group was allotted 130 acres downsizing their investment plan with an outlay of Rs 70,000 crore in phases. According to the latest plan, Adani will Rs 14,634 crore for developing an integrated data centre park, integrated IT/business park, recreation centre and a 200-MW solar power plant to meet its requirement. With this investment, about 25,000 jobs will be created.

#VizagNews #Visakhapatnamnews #breakingnews #latestnewsvizag

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