Chandrababu Naidu‘s Andhra Pradesh government approved giving 21.16 acres of land in Visakhapatnam to TCS for just 99 paise as lease. TCS will build an IT campus on IT Hill Number 3 and invest Rs 1,370 crore. This project is expected to create 12,000 jobs, reported PTI.
The land allotment is part of the state’s plan to make Visakhapatnam (Vizag) a major technology hub. IT Minister Nara Lokesh first suggested the idea to TCS during his visit to the Tata headquarters in Mumbai in October 2024. He encouraged the company to choose Andhra Pradesh for its next big development center.
Following months, many discussions were held by the state government with TCS, which ultimately led to an approval from the Cabinet.
The Cabinet also approved giving 87.56 acres in Krishnapatnam village and 220.81 acres in Nelaturu village to the Andhra Pradesh Industrial Infrastructure Corporation for the purpose of setting up industrial parks, a PTI report said.
Approving the proposals from the Industries and Commerce Department to improve the financial position of both the department and the Andhra Pradesh Mineral Development Corporation, also allowed the government to issue bonds worth Rs 9,000 crore.
Lastly, the Cabinet approved the selection of the lowest bids (L1) for constructing the new Assembly building at a cost of Rs 617 crore and the High Court building at Rs 786 crore, reported PTI.