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Incubation tower will be readied within 18 months

Thursday, February 18, 2016
Visakhapatnam

A Chennai based firm has been appointed as consultant for preparing a detailed project report and finalizing conceptual design and bid process for the domain-specific innovation and incubation tower at Siripuram junction to promote IT and ITES.

The project, a joint development agreement signed on Thursday in the presence of the Union Minister for Communications Ravi Shankar Prasad, Union Minister for Urban Development M.Venkaiah Naidu and Chief Minister Chandrababu Naidu. It will be operational in 18 months.

Padgro and HDFC Reality Consultancy, Chennai will be paid an amount of Rs.43.32 lakh as consultation fee. As per the agreement, VUDA will give 2,783 sq.metres on 66 year lease to STPI. In all an area of 97,912 sq.ft.of built up are will be created by building eight floors and three basements up to a height of 27 metres.


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