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Hi-Tec City completes civil works

The Hi-Tec city is expected to host offices of several information technology companies. Negotiations are already on with Sun Microsystems, Motorola,

T O D A Y

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Sybase and IBM for allotment of office space.

Andhra Pradesh Industrial Infrastructure Corporation Chairman and Managing Director of R Chandrashekher has claimed that the corporation is also in the process of evolving an attractive package to support small software companies.

This, he said, is being done in coordination with the Andhra Pradesh Industrial Development Corporation's recently launched venture capital fund and NASSCOM's venture capital fund.

The modalities and the package deal for this would be unveiled soon, Chandrashekher said.

The first phase of the construction work of Hi-Tec City is almost complete and is expected to be ready for work on the interiors by the companies in July.

The software companies and professionals can physically move in and start operating from September.

Buoyed by the good response for the project, the work on the second phase, with an outlay of Rs 2 billion, which was proposed to commence in June 1999, is now expected to begin in December itself, said A Ramakrishna of L&T.

L&T Infocity Limited, a joint venture company of Larsen & Toubro Limited and APHC, has promoted the Hi-Tec City at Madhapur, Hyderabad, L&T, and its associates have 89 per cent stake in the joint venture while APHC has 11 per cent.

The city has been planned as an integrated township, spread over 158 acres with infrastructure facilities including optic fibre network, telecommunications backbone, uninterrupted power supply and other vital facilities.

The first phase of the city, which occupies a six-acre spot, launched in April 1997, has a total office space of about 500,000 square feet. The work on the remaining area of 152 acres would begin for developing customised buildings of different sizes in a phased manner.

The building, after the completion of the first phase, has a 10-storeyed structure with a possibility of 120 modules. The ground floor would host common facilities. The state government has waived stamp duty and registration charges of 13 per cent (which is applicable for property sale) to IT firms setting up software development facilities.

While the Software Technology Parks of India and Videsh Sanchar Nigam Limited are setting up their network offices in the complex, the Department of Telecommunications and Tata Teleservices Limited are providing telephone exchanges.

Major multinational software companies and various service providers have confirmed their intent to take space that has now accounted for over 63 per cent of the total available space.

Naidu has stressed the importance of information technology for the state's development and the pivotal role Hi-Tec City would play in the development process. The project would create employment for 50,000 personnel directly and 250,000 indirectly, he said.

- Compiled from the Indian media

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