First skyscraper of Vishakapatnam is coming up in the heart of the city with first of its kind domain-specific incubation and innovation centre on marine, power and petroleum to encourage small and medium IT players and startups. The project will be joint venture of Visakhapatnam Urban Development Authority and Software Technology Parks of India (Ministry of Information Technology).
The project will be coming at 1.2 acres site at Siripuram between VUDA office and HSBC. STPI had allotted 16 Crore for setting up the tower. VUDA’s share will be in the form of land as its equity.
Initial proposal is that the tower will be have 10 to 12 floor tower with 1.25 lakh square ft. The State government is already trying to woo in big ticket IT companies to set up campuses in Visakhapatnam, It is said that CapGemini had evinced interest in setting up a campus in Vishakapatnam.
