Categories: News/City Updates

Visakhapatnam to soon get an IT Tower at the heart of the city

Visakhapatnam Urban Development Authority (VUDA) and Software Technology Parks of India (STPI) will soon be setting up an IT Tower in the heart of Visakhapatnam. The project was signed in February 2016 in the presence of Andhra Pradesh Chief Minister Nara Chandrababu Naidu and Union Minister of Electronics and Information Technology Ravi Shankar Prasad. Even though the project was supposed to hit the tracks two years ago, invariable reasons and uncertainties caused it to be delayed. However, with the concerned software firm responding on the same, the much-awaited Tower will soon be adorning the city of destiny.

It has been learned that the IT Tower will be built with an estimated cost of Rs 62 crore. While VUDA will have to allocate land worth 16 crores, STPI will have to bear the remaining cost of Rs 46 crores. The tower will be constructed at Siripuram near the VUDA office.The eight-storeyed IT Tower will be working on the technologies related to the fields of marine, petrol, and electricity, it has been reported.

Visakhapatnam as an IT hub

The city of Visakhapatnam has been deemed to emerge as the IT hub of Andhra Pradesh. The state government has inked pacts with multiple firms to equip the city with an ecosystem that promotes new age technologies like blockchain among others.

The city’s Fintech valley, which is approaching completion, will be housing several technology firms that would facilitate in making Visakhapatnam smarter.

Recognising the efforts being made in regard to the same, the World Economic Forum has recently come out hailing Andhra Pradesh and Vizag for the smart and disruptive utilization of blockchain.

“Vizag is ready to embrace the wave of technology, and become a valley to reckon with along the lines of Silicon Valley. The positioning will mark the city as a promising global Fintech destination.To achieve this, competitions are being run across places like London, Singapore, New York, Tel Aviv. The shortlisted companies will come in September for a demonstration, which will be part of the flagship programme. Winners will be granted one million USD. This event will garner global visibility for the city and it will become a destination for the next generation of start-ups and technologies. The start of real-time governance, which hasn’t happened anywhere else and the beginning of Google’s development center are other promising developments.” Dr. J A Chowdary, Co-founder, Fintech Valley, Visakhapatnam and Advisor IT & Special Chief Secretary to Chief Minister Chandrababu Naidu

, Andhra Pradesh, said in an interview with Yo! Vizag.

This post was last modified on %s = human-readable time difference 10:10 am

Share
Leave a Comment

Recent Posts

2nd Infosys campus to new data units: Lokesh shares 5 key IT developments in Visakhapatnam

Andhra Pradesh's IT and HRD Minister, Nara Lokesh, has revealed a series of exciting IT…

34 mins ago

Badamgir Sai passes away

Noted stage artiste and founder of Rangasai Nataka Sangam and Rangasai Nataka Grandhalayam, AVVS Murthy,…

2 hours ago

What Are The New Releases on OTT Today? Here’s What to Add to Your Watchlist

A slew of fresh and exciting OTT releases are dropping today, promising a binge-worthy lineup…

17 hours ago

Hot & Hearty: The best soups in Visakhapatnam that complements this weather!

With the weather taking a turn these past couple of days, it’s like Visakhapatnam has…

18 hours ago

Plan a trip from Vizag to these 5 skiing destinations in India this winter

Dreaming of swishing down powdery white slopes with crisp mountain air in your lungs? While…

18 hours ago

Bigg Boss 8 Telugu: Voting polls drastically change, THIS celeb is in danger!

Based on the unofficial voting polls, two contestants are leading— Yashmi and Prerana. In many…

20 hours ago