VISAKHAPATNAM: The state’s tech ecosystem receives a major boost as the government allocates land parcels to five IT companies, including data center projects, with an estimated investment of ₹19,000 crore.
The government approved the allotment of 3.6 acres at the IT SEZ in Madhurawada to Sify Infinit Spaces Limited at ₹1 crore per acre, mandating that operations begin within two years. Additionally, Sify has been granted 25 acres in Paradesipalem at ₹50 lakh per acre for establishing a 550 MW data center, with a projected investment of ₹15,266 crore and the potential to create 600 jobs.
Phenom People Private Limited has proposed an IT/ITeS campus in Visakhapatnam with a total investment of ₹207.5 crore, aiming to generate up to 2,500 jobs. The company specializes in an AI-driven talent experience platform and operates in various countries, including the USA, Netherlands, and UK.
After review from the Andhra Pradesh Economic Development Board (APEDB), the proposal was referred to the Consultative Committee on Information Technology and Electronics Investments (CCITEI) and subsequently approved by the State Investment Promotion Committee (SIPC) and the State Investment Promotion Board (SIPB). The state government has now allotted 0.45 acres in Madhurawada and 4 acres at Rushikonda IT Park to Phenom People at ₹4.05 crore per acre, with conditions to operationalize at least one campus within a year and create 2,500 jobs within four years.
Moreover, the government has awarded 10 acres to BVM Energy and Residency Private Limited in Yendada at ₹1.5 crore per acre, contingent on developing a minimum of 2.5 million square feet of mixed-use space. This project qualifies for policy incentives under the AP IT & GCC Policy (4.0) for 2024-29, allowing up to 40% of the land for related infrastructure such as employee housing and retail amenities.
Sattva Group has been allotted 30 acres at Hill No. 4, Madhurawada, for ₹1.5 crore per acre, with the option to use up to 50% for mixed purposes. The project aims to produce 1 million square feet of commercial space within three years and an additional 9 million square feet by year five, expecting to generate 25,000 jobs with an overall investment of ₹1,500 crore.
Additionally, ANSR Global Corporation Private Limited has been allocated 2.5 acres at Hill No. 3, IT SEZ, and 7.79 acres at Hill No. 4, at a nominal rate of ₹0.99 for the entire area, with a requirement to begin operations within three years. ANSR plans to create a Global Innovation City in Visakhapatnam, investing ₹1,000 crore and aiming to create 10,000 jobs.
