‘Prospects of flow of investments into State from Bengaluru, Chennai bright’

Several IT companies specialising in micro chip designing, semiconductor testing, and printed circuit board will set up their facilities in Visakhapatnam.

“Inspired by the pro-active policies of the State government and its track record in the Ease Of Doing Business index, there are enough indications of flow of investments from Bengaluru and Chennai,” a senior official of the IT Department has said.

“A Bengaluru-based firm has approached us to relocate its 100-seater facility to Visakhapatnam. The firm, working in the insurance sector, will invest Rs. 50 crore to Rs. 60 on its facility here,” Special Secretary, Department of IT, Anoop Singh, told
The Hindu

Mr. Anoop Singh said they had issued the allotment letter to Innominds with a 100-seater accommodation at the Tech Hub. It would move out once construction of its campus on the two-acre land on Hill No. 3 at Rushikonda was ready, he added.

Tessolve venture

Tessolve, which has expertise in semi-conductor design and fabrication facility, will set up a campus in Visakhapatnam.

Cerium, a micro chip designing firm, has big plans for the city. Its request for allotment of two acres is under active consideration.

Mr. Singh said Visakhapatnam remained the most sought-after Tier II location for allotment of seats under the India BPO Promotion Scheme.

He said the city had attracted majority of seats out of 11,223 sanctioned for Andhra Pradesh.

Healthcare publishing

On the investment proposals for the city, he said OMICS International would develop a 1998-seater specialising in healthcare publishing and research. Conduent, a $6 billion American firm, had already launched its operations on a rented premises at Rushikonda.

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