Union Communications and IT Minister Ravi Shankar Prasad will lay foundation stone on February 18 for the IT tower at Siripuram and Centre for Electromagnetic Environmental Effects. Chief Minister Chandrababu Naidu and Union Minister Venkaiah Naidu will also participate.
The IT Tower is a joint venture between Software Technology Parks of India (STPI) and VUDA. It was delayed for a long time as there were differences between both the parties in sorting out modalities for entering into a joint venture.
Finally things got a start after VUDA agreed to convert its land value into equity in the project. Sources said STPI had agreed to increase its outlay for the project from Rs.16 crore sanctioned earlier to Rs.44 crore.
