The Hindu 12.02.2014
VUDA, STPI to set up IT incubation centre in Vizag
VUDA and STPI will enter into a Memorandum of
Understanding to create software facilities in eight floors in a site on
the VUDA premises at Siripuram in the heart of the city.
The
modalities to enter into the MoU are being worked out, according to
VUDA Vice-Chairman N. Yuvaraj. The project to create 1.25 lakh square
feet of space will be taken up at a total cost of Rs.25 crore of which
STPI will bring in Rs.16 crore. VUDA will contribute the land and foot
the remaining cost.
The details have been discussed
including the design have been discussed and STPI agreed, in principle,
to take up the project in collaboration with VUDA. Land will not be
transferred to STPI and the space created will be shared in proportion
to the investments made by STPI and VUDA. The space will be transferred
to VUDA once STPI gets back its investment, Dr. Yuvaraj told reporters
on Tuesday.
The facility is aimed at creating
readymade infrastructure for information technology companies and
utilising the various incentives being given by the government . VUDA
has been considering the construction of IT towers in the heart of the
city for a long time now. Though the MoU is between VUDA and STPI, the
Government of Andhra Pradesh and Government of India will be directly
involved in the processes involved, Dr. Yuvaraj said.
