Hyderabad, India, April 19, 2007 - Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing organization, announced that it had signed a Memorandum of Understanding (MOU) with the Government of Andhra Pradesh to acquire 75 acres of land to develop a state-of-the-art development facility near the new international airport in Hyderabad. TCS will invest up to Rs 400 crore in the facility to create a capacity of 15,000 seats at Adibatla, which is part of Andhra Pradesh Industrial Infrastructure Corporation (APIIC) promoted Special Economic Zone.
New Delhi, India, March 01, 2007 - According to the Minister of Urban Development, S. Jaipal Reddy, 59 proposals have been received from Andhra Pradesh for release of funds since the inception of the Jawaharlal Lal Nehru National Urban Renewal Mission under the sub-mission, Urban Infrastructure and Governance.
Hyderabad, India, February 25, 2007 - Leading IT company Cognizant Technology has been allotted 40 acres of land in Adibatla village of Ranga Reddy district near Hyderabad. The company plans to build a 2 million sq.ft office on the plot at an investment of Rs.330 crores.
Vizag, September 21, 2006: According to a press release from Mr. N. Janardhana Reddy, Lok Sabha MP from Vizag, the Airports Authority of India (AAI) is taking up construction of a new integrated terminal building for the Vizag airport as part of the airports modernization plan. This project, expected to cost Rs.92 crores will be launched on the 26th September 2006 with the laying of a foundation stone. This new terminal will be centrally airconditioned and will have parking facility for 600 cars.
The Vijayawada Municipal Corporation has proposed a multiplex on two acres of land near the Vidyadharapuram bypass road.
The project is aimed as a retail, hospitality and entertainment center to be executed on a public-private partnership basis. The corporation hopes to get 25% funding from the Centre for the Rs.40 crore project.
Hexaware's 11-hectare information technology Special Economic Zone (SEZ) at Siruseri near Chennai, has been notified. Another SEZ for Medicaps covering an area of 12.25 hectares at Indore in Madhya Pradesh has also been notified. This takes the number of notified SEZs to a total of 22. It may be recalled here, that the Board of Approval has given its stamp of clearance to 150 applications, already.
A Special Economic Zone (SEZ) with sole focus on steel production with ancillary and downstream units may be set up by Rashtriya Ispat Nigam Ltd at Visakhapatnam. The aim is to promote industrialisation in the district and improve employment opportunities in the region.
The expansion of the plant at a cost of Rs.8600 crores is scheduled for completion in 2009.
Andhra Pradesh Chief Minister, Dr. Y.S. Rajasekhara Reddy, announced that the state Govt. would soon have a policy to streamline land acquisition for development of projects. Earlier, the govt. experienced difficulties in acquiring land for infrastructure projects with an exponential rise in land prices being a major hurdle.
The Andhra government has increased the market value of land and buildings across all municipalities, corporations and special grade municipalities by 10 to 20 per cent. Registration charges will correspondingly move up to to the higher property value. Registration charges stand at 9.5 per cent, including a stamp duty of 7 per cent of the market value, transfer duty of 2 per cent and registration fee of 0.5 per cent.
Simplex Somdatt has quoted the lowest amount, Rs. 439 crore, for the Mehdipatnam to international airport elevated expressway project in Hyderabad. The bid was 2.5% lower than HUDA's estimated construction value and lower than the other bidders - Gamon India, IJM Corporation, Malaysia, Italian Thai Development, Bangkok, Navyug Engineering, and Punj Loyd. Simplex Somdatt is likely to be awarded a letter of acceptance by Aug 10.
Bookings have started for villas in Prajay Celebrity villas, a 18 acre gated community in Shamirpet. The villas are to be completed by October 2006. Prajay Engineers the developers have also announced a new project, Prajay Harbour City, a township on 150 acres of land near Vizag.
Mr Jairam Ramesh, Union Minister of State for Commerce, has announced the setting up of an exclusive leather SEZ at Tada in Nellore district, Andhra Pradesh. The SEZ would be a joint venture between the Andhra government, a consortium of shoe manufacturers and the Tatas. The Tatas are said to be putting up an initial investment of Rs. 100 crore for the project.
Hyderabad based Ramky Infrastructure Ltd, is planning to raise Rs 300 crore from the capital market to help finance its investments in public-private infrastructure projects in India, including roads and industrial parks. The company is bidding for the Rs.500 crore road project coming up in Andhra Pradesh further to its success in securing similar road projects in other parts of the country. The company with a turnover of Rs. 360 crore is likely to go public by Feb 2007.
The Kakatiya Urban Development Authority (KUDA) proposes to construct a commercial centre, hotel, multiplex and office complex on 11.24 acres of land in Balasamudram. KUDA plans to buy 135 acres of land from from the National Textile Corporation (NTC) and sell it as plotted land. Proceeds from this venture are to be invested in a four lane outer ring road to be built at a cost of Rs. 100 crore.