The Iconic Millennium Tower will be become as the new scope of landmark for the IT Hub in Visakhapatnam when the work is going to complete.
Although the scheduled completion of the super structure missed the target of 30 September, the designed agency Andhra Pradesh Industrial Infrastructure Corporation to take up the construction is going to complete by March 31.
“To complete by the end of the economical year the first phase of the tower A and parking for Tower A and B, we had prepared the tight schedule”. C Yathi Raju APIIC zonal manager expressed in press meet.
The present construction expenditure is Rs.85 crores. APIIC has assign responsibility the job of construction to KPC Projects. APEITA (AP Electronics and IT Agency), he State government formed the autonomous society to draw attention of investments in IT and electronics, to allot all facilities to startups, MSME partners and others majorly working in new age technologies and fintech ( financial technology).
“This will be innovative for promoting IT in Visakhapatnam and will be the largest commercial hub and main IT destination for the investors”. – Said by the Tirumala Rao Chamalla APEITA CEO.
Madhurawada and several IT units and IT Special Economic Zone, including the Sunrise Incubation Hub and Fintech tower are located in the locality, christened Cyber Valley. For desire to increase the space to allocate for the startups and other IT investors, the government under the designated Technology Park Policy, many buildings including VUDA shopping complex at Seethammadhara. The Tech Mahindra new block and a mall on VIP Road have been taken on rent out by APEITA with 50 percent discount allowing on rent.
The IT gross revenue from the city is looked for to achieve a quantum jump once it will under the new projects. At present gross revenue is Rs.2,000 crores.