L&T Infocity to build Vizag IT park

HYDERABAD: After Hyderabad, port city Vizag is all set to get an IT park. L&T Infocity, the builders of IT park in Hyderabad, have signed the memorandum of understand (MOU) with the Andhra Pradesh government. The work for this 2 lakh sq ft IT park is expected to commence in June this year. "We have already identified the land and would be looking forward to completing the work in a years time by June 2004," said, R Sridaran, COO at L&T Infocity.

According to Sridaran, initially the company would be targeting Hyderabad and Bangalore based multinationals looking at having multi location operational facilities. "We are going to provide the space at around Rs 27 per sq ft which is a good offer and I am sure that we will have good occupancy at Vizag," he said adding that while it has become a norm to compare Hyderabad with other favored IT destinations–Bangalore or Chennai–it takes a lot more than the best infrastructure to attract a big MNC.

"Of course they want the best infrastructure and everybody is providing it, but we have reduced the cost of construction to quite an extent with our ‘valued engineering’ efforts. This in turn allows us to offer infrastructure similar to Bangalore’s ITPL or Chennai’s Tidel Park at a much cheaper rate. At present we are offering space at around Rs 35 per sq ft which is far cheaper that Bangalore’s Rs 50 per sq ft and Chennai’s Rs 45 per sq ft," Sridaran said.

L&T Infocity started Hitech City way back in the year 1996 with an objective of utilizing the available large pool of skilled software professionals in this region. Though initially it was thought that L&T will go ahead and sell the place to the companies but realizing the needs of the IT market, the company adopted this strategy of leasing out its premises to IT cos.

The company is also coming up with a BPO focused 5-lakh sq ft facility ‘Cyber Pearl’ at the Hitech City in Hyderabad. Sridaran said he expect the construction of Cyber Pearl facility to begun soon and complete the first phase comprising 2.5 laks sq ft by January next year.