Very soon Vijayawada will have a massive IT Tower spread over an area of one lakh square feet. The proposed structure will be built in the City at a cost of Rs 40 crores and the tenders were called for the work.
Sources at Software Technology Parks of India (STPI) say the initial response for the plug and play facilities of the tower is good. More than 1,000 people can work from this place. They say it will take a minimum of one and half years for companies to move in here and so it will take two more years for the growth of IT industry in this region.
Nearly 12 IT and IT-enabled services SMEs were doing Rs 12 cr – Rs15 cr annual business at the STPI, Vijayawada, which was set up in 13,306 sqft on the premises of Government Polytechnic College. Vishakapatnam is the preferred destination for IT companies in Andhra Pradesh till now as Vijayawada lacks adequate infrastructure facilities.