Ratan Tata’s TCS gets 21 acres land only for 99 paisa in this state, not Gujarat, UP, Karnataka, Assam, IT firm will invest Rs 13700000000 in…
The Andhra Pradesh cabinet has taken a big decision by approving the allotment of 21.16 acres of land to Tata Consultancy Services (TCS), the IT firm of the Tata Group. This land, located at IT Hill number 3 in Rushikonda, Visakhapatnam, has been given on a lease to the tech giant for just 99 paisa. The move is a similar to a gesture by Narendra Modi, when he was the Chief Minister of Gujarat and offered land to Tata Motors at a nominal price to establish their manufacturing plant in Sanand near Ahmedabad.
This initiative will develop Visakhapatnam’s reputation as a technology hub. State Minister for IT and Electronics, Nara Lokesh Naidu, announced that TCS plans to invest Rs 1,370 crore to set up a state-of-the-art development center on the leased land. This center is expected to generate approximately 12,000 jobs and boost the local economy.
Last year Minister Naidu visited Tata House in October 2024, where he had given a pitch for TCS to establish a large-scale development center in Andhra Pradesh.
“Cabinet approved the allocation of 21.16 acres of land to TCS at Visakhapatnam IT Hill Number 3 for setting up an IT campus to generate 12,000 jobs,” according to a release.
The Cabinet also approved a proposal from Mahamaya Industries Limited to expand an integrated steel plant in Vizianagaram.
It approved the allocation of 6.35 acres at Nadimpalem of Pattipadumandal in Guntur district to ESIC (Employees State Insurance Corporation) either for free or at a nominal price for a 100-bed hospital and residential quarters for employees.
The Cabinet greenlit the free-of-cost allocation of 30 acres at IS Raghavapuram in the Dwaraka Tirumala mandal of Eluru district to the Sri Lakshmi Narasimha Swamy temple.
The proposal to allot 87.56 acres at Krishnapatnam village and 220.81 acres at Nelaturu village of Muthukur mandal in Nellore district to the APIIC (Andhra Pradesh Industrial Infrastructure Corporation) to establish industrial parks has also been cleared.
The Cabinet cleared industries and commerce department proposals made on April 9 to enhance the financial strength and creditworthiness of the department and the Andhra Pradesh Mineral Development Corporation (APMDC).
A proposal to allow the issuance of bonds worth Rs 9,000 crore has also been cleared.
The Cabinet greenlit a proposal to issue a LOA for the approval of L1 (lowest) bids for construction of the assembly building with Rs 617 crore and the high court building with Rs 786 crore, among other decisions.
(With inputs from PTI)
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