Vuda-STPI incubation centre soon in Vizag

By SNV Sudhir  

Visakhapatnam, Feb 11, 2014: In a major boost to the IT and ITES sector in Vizag, Vuda and Software Technology Parks of India (STPI) are finalizing modalities to enter into a Memorandum of Understanding (MoU) to develop IT incubation and innovation centre in the city.

 The MoU is most likely be signed by the month end and features issues like finalizing the design of the building. The incubation centre will come up in the vacant land behind the Vuda office.

While the state government’s IT incubation centre, which is under construction at Rushikonda is being delayed, the proposal to develop another incubation centre by Union government’s department of IT and communications' STPI, has remained a non- starter.

It has been more than two years that the Centre has the administrative nod, released funds, but the state government has failed to allot land for the proposed IT Incubation and Innovation centre in the city with plug and play facilities.

Though the facility was initially planned at the APIIC’s IT SEZ in Gambheeram, the location was dropped as it was far away from the city.

Later, Vuda allotted a site which was leased to a private party earlier near its office. However, the allotment ran into rough weather, as the site lease owner approached a court questioning the cancellation of lease.

As per the finalized proposal a 9 storied building would come up with 1.25lakh sft space with plug and play facilities at the approximate 1 acre land available behind the Vuda office.

Of the total cost of Rs 25 crs, for the construction of the incubation centre, STPI would spend around Rs 16 crs, which has already been sanctioned by the union government long time ago.

“The STPI has agreed to our project proponent proposal in the first week of this month. We are working on the other modalities and content of the MoU, which we are likely to sign by this month end. After the MoU tenders will be called for the construction of the building which will be done on a war foot basis. Expert architects have already finalized the building design. It will be a joint venture of STPI and Vuda. Around 40 percent of the space will be left for parking,” said Vuda, vice chairman, Dr N Yuvaraj.

Regarding change in the plan of proposed Vaibhav IT Park under PPP, in Siripuram junction, Yuvaraj said that the private developers wanted to change the building design and model from 13 floors to 7 floors along with movie screens. The Vuda Vc added that the issue will be discussed in the meeting of a local committee set up recently to look into Vuda’s PPP projects, headed by district collector and take a final decision shortly.