Andhra Cabinet approves allocation of 21 acres in Vizag to TCS at token lease prise of 99 paise

The Andhra Pradesh Cabinet on Tuesday approved the allocation of 21.16 acres to TCS in Visakhapatnam at a token lease price of 99 paise.

The tech giant will use the earmarked land on IT Hill Number 3 for an IT campus where it is expected to invest Rs 1,370 crore. The project is set to generate 12,000 jobs.

"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.