The Times of India             13.02.2014

Vuda plans to develop IT incubation centre in Visakhapatnam

VISAKHAPATNAM: The Visakhapatnam Urban Development Authority (Vuda) has mooted a proposal for the development of an IT incubation centre in association with the Software Technology Parks of India (STPI).

Vuda vice-chairman N Yuvaraj said that the proposal is under consideration and the process of signing a Memorandum of Understanding (MoU) is awaited.

The IT Incubation center would come up at the available site behind the Vuda building and the architectural designs have also been finalised, he added.

The proposed centre will be developed in a space of 1.25 lakh square feet with a nine-floor building at a cost of Rs 25 crore out of which Rs 16 crore will be obtained from STPI, Yuvaraj said. The modalities for the MoU are being formulated for the STPI. Another proposal - for the development of a science center - has been made for the vacant site available at RK Beach and the project report was forwarded to the Centre, Yuvaraj said.

In the background of the demand for an auditorium on the lines of Rabindra Bharati, a proposal was also forwarded to the state department of culture, earmarking the site of the new Rythu Bazaar in MVP Colony, he said.

Explaining the status of various PPP projects, Yuvaraj said steps have been taken for settling all such issues which were already placed before the Vuda board and on which decisions had been arrived at by the board. To avoid disputes, concrete action plants were being initiated with reference to projects being taken up under the PPP model, he said.

Among the PPP projects, high rise apartments by Vinayagar Promoters at Paradesipalem, miniature model project atop Kailasagiri, construction of Hill Top Resorts and party zone, revolving restaurant atop Kailasagiri were dropped due to non-feasibility of grounding, Yuvaraj said.

The Innovative and Unique Entertainment and Amusement Park in Vuda Park and the construction of a shopping complex at KL Rao Nagar are pending before the government for approvals. Site allocated to the developer, Vaibhav for development of a commercial space is also under consideration as the developer has presented a revised proposal and it will be placed before the VUDA Board for further decision.