Vuda Bids for IT Tower Project

Vuda Bids for IT Tower Project, Vuda Bids for IT Tower Project vizag, Vuda Bids for IT Tower Project visakhapatnam city news 2015.

Vuda Bids for IT Tower Project :-

Work on the long-awaited IT Incubation anti innovation centre planned by Software Technology Parks of India (STPI) in the city has gained momentum with the joint Venture partner Vuda calling bids to pick a consultant to conduct the techno feasibility, financial viability study of the project and also to manage the bidding process to award the project. The relevant reports for the new IT facility are likely to be ready by November-end as the consultant is expected to be finalised by this month end or in the middle of August. It has been more than two years that the Centre gave the administrative nod and released funds but the state govermnent has failed to allot land for the proposed IT incubation and innovation centre with plug and play facilities. which delayed the project.

Recently, Vuda had come forward offering its one acre land adjacent to its office near Siripuram where around 1.25 lakh sft space building is planned. An MoU in this regard will be signed between Vuda and STPI after the consultant submits its techno-feasibility and financial viability report. Revenue sharing will also be decided as per the report. The IT tower proposal was first mooted way back 7 to 8 years ago by the STPI and the detailed project report that was prepared at that time is not suitable to the present scenario.

Earlier, the proposal was that the state government would allot the land and STPI was to build the facility. But now it‘s a joint venture between the Vuda and STPI with revenue sharing model. We have called for bids to select consultant to do the required studies afresh and submit to us so that we will go ahead with the project.” Vuda vice-chairman G. Baburao Naidu told this newspaper. After the techno feasibility report is submitted, the consultant will finalise the design and modalities of the incubation centre. Sources in state IT department pointed out that it will be a 12 storied building.

This Article was First Appeared in Deccan Chronicle.


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