Vizag biz district plan put on hold

Visakhapatnam: ANDHRA Pradesh Government has put on hold the decision for development, operation and maintenance of the business district here in an area of 19 acres at Rushikonda (Madhurawada Hill No. 3) on hold immediately after issuing notification for expression of interest from prospective investors.

A senior official of AP Industrial Infrastructure Corporation (APIIC), when contacted, told Bizz Buzz on Sunday that a decision would be taken on the ambitious project later. He declined to comment on the reason for cancellation of EoI notification. The APIIC stated in the latest notification, "it is hereby informed that the EoI process for the aforesaid project (development, operation and maintenance of business district) is cancelled due to 'administrative reasons.'

A close associate of Minister for Industries and IT Mekapati Gowtham Reddy said some changes were mooted and the EoI would be called again soon. The State Government has decided to develop Visakhapatnam as the executive capital. Court cases challenging the decision by the farmers of Amaravati region and the outbreak of Covid-19 pandemic have delayed making it (trifurcation of capital) operational. The government wants Amaravati as legislative capital and Kurnool as judicial capital.

The Minister in a tweet earlier stated "our government will create an international #business hub in #Vizag to attract the best in IT/ITes & financial services MNCs to start operations in a business-friendly environment in PortCity." He said the project includes business towers, hotels and facilities for MICE (Meetings, Incentives, Conferences and Exhibitions) tourism.

During erstwhile TDP Government a Signature Tower-on the lines of Cyber Towers of Madhapur in Cyberabad, was proposed in the area. The project was shelved following no response from investors to adhere to the conditions stipulated by APIIC.The site in question was acquired by APIIC by an IT company before its acquisition by another company for failing to fulfil allotment of land norms with regard to creation of jobs.

Innovation Valley, Fintech Towers and the proposed 300-acre knowledge park on Hill No. 4 of Madhurawada are located in the vicinity. Hill No. 1, 2 and 3 of Rushikonda (Madhurawada) are home to several IT companies. The area is emerging as an IT hub. According to Software Technology Parks of India Joint Director M.P. Dubey, the city has an estimated turnover of Rs 2,000 crore from IT and IT enabled services.