Vizag IT Park to be ready by mid-March

The Vizag IT Park, being developed by Visakhapatnam Urban Development Authority (VUDA), Andhra Pradesh Industrial Infrastructure Corporation (APIIC), and L&T, will get ready by mid-March.

The construction work of the main structure has already been completed, and the interior works are going on at a fast pace.

"As part of the special purpose vehicle (SPV) jointly formed by VUDA, APICC, and L&T to develop the IT park, we have contributed 2 acres of prime land at the heart of the city," D Srinivasulu, the vice-chairman of VUDA, told Business Standard.

L&T has invested around Rs 23 crore for the construction of the main building, and its ECC division has executed the construction work of the seven-storeyed building on a 1.92 lakh sqft land in a record six-and-half-a-months time.

"The construction of the main building was completed by December-end, and now the HSBC has taken up the interior works with an investment of around Rs 20 crore. We are planning to inaugurate the building by mid-March," said VJ Ravindra Kumar, the construction manager of L&T Limited.

Once the interior works are completed, HSBC will take over the entire building on a long-term lease, and as part of its first phase operations, the company is planning to deploy 800 software engineers for its BPO and call center operations from Visakhapatnam.