21 Acres to TCS for 99 Paise
In a move that’s turning heads, the Andhra Pradesh Cabinet has greenlit a sweet deal for tech giant Tata Consultancy Services (TCS). The state will lease 21.16 acres of prime real estate on Visakhapatnam’s IT Hill Number 3 to TCS for a symbolic price of just 99 paise! In return, TCS is expected to pump in a whopping Rs 1,370 crore to set up a cutting-edge IT campus — a project projected to create 12,000 jobs in the city.
21 Acres to TCS for 99 Paise
But that wasn’t the only big-ticket decision on the Cabinet’s agenda. The Cabinet also rolled out the red carpet for Mahamaya Industries Limited, approving the expansion of its integrated steel plant in Vizianagaram. Healthcare got a boost too — the state allocated 6.35 acres in Guntur district to the Employees State Insurance Corporation (ESIC), practically for free, to build a 100-bed hospital along with staff quarters.
21 Acres to TCS for 99 Paise
In a gesture of devotion, the government also approved a 30-acre, no-cost land allocation at IS Raghavapuram in Eluru district for the Sri Lakshmi Narasimha Swamy Temple.
The state is also fueling its industrial ambitions, clearing the path for 308 acres across Krishnapatnam and Nelaturu villages in Nellore district to be handed over to the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for new industrial parks.
21 Acres to TCS for 99 Paise
To boost financial muscle, the Cabinet okayed proposals aimed at improving the creditworthiness of both the Industries and Commerce Department and the Andhra Pradesh Mineral Development Corporation (APMDC), and gave the nod for issuing Rs 9,000 crore worth of bonds.
21 Acres to TCS for 99 Paise
Lastly, the government cleared the decks for major construction projects, approving L1 bids for the new assembly building (Rs 617 crore) and a grand high court building (Rs 786 crore), marking another step forward in the state’s infrastructure makeover.
