Adani set to start work on data park in Vizag
Adani Enterprises, which formed a Special Purpose Vehicle to implement its first data park project in Andhra Pradesh with an investment of Rs14,634 crore is expected to kick-start its work shortly.
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Visakhapatnam: Adani Enterprises, which formed a Special Purpose Vehicle to implement its first data park project in Andhra Pradesh with an investment of Rs14,634 crore is expected to kick-start its work shortly.
Vizag Tech Park, the SPV formed by Adani Group to implement the project, has already received clearance from Visakhapatnam Metropolitan Region Development Authority (VMRDA) for the layout at Kapuluppada in the city in an area of 130 acres on payment of Rs130 crore to APIIC. The construction work will start once the building plan is approved by Greater Visakhapatnam Municipal Corporation.
Minister for IT and Industries Gudivada Amarnath recently said the project will be a game-changer for Visakhapatnam as the project proponent has committed to generate jobs for nearly 25,000. Besides the data park, the project will also have a 200 MW power plant, business park and entertainment centre. The power plant will attain the full capacity in phases over a period of seven years. A skill university will also be set up by the Adani Group aimed at producing students for high-end jobs.
Sources told Bizz Buzz that the project, which was cleared by the Cabinet in October, 2021 hit a roadblock as the project proponent sought a plotted area of 130 acres instead of a single parcel where most part would have remained unfit for use for the project.
The investment for the Adani data park project was downsized after a change of guard in the State.
The erstwhile TDP Government had laid the foundation for the project with a massive investment of Rs 70,000 crore just before 2019 elections. After renegotiation with the company, the YSRCP Government gave permission to allow the project with an investment of Rs14,634 crore by reducing the capacity of the park and solar power plant. In the GO sanctioning the project, the State government also agreed to offer a slew of concessions which include supply of power at a concessional rate for next 20 years.
