Saturday, September 21, 2013: The Cabinet Committee on Economic Affairs has given a green signal for the establishment of Information Technology Investment Region (ITIR) near Hyderabad but, on the ground of fulfillment of certain conditions. A detailed feasibility study will be carried out by the Ministry of Road Transport & Highways, Ministry of Urban Development and Ministry of Railways.
This will involve an investment to the tune of around Rs 2190 billion (Rs 2.19 lakh crore) out of which the IT/ITES (Information Technology / Information Technology Enabled Services) Sector is to draw investments of Rs 1180 billion (Rs.1.18 lakh crore) and the Electronic Hardware Manufacturing (EHM) sector of Rs 1010 billion (Rs.1.01 lakh crore).
Apart from this, the Government of India has even come up with the proposal of upgradation of three radial roads along with the extension of the Metro Rail from Falaknuma to Shamshabad International airport at total cost of Rs 32.75 billion (Rs 3,275 crore).
Andhra Pradesh government has set aside an area of 202 sq. kms. for the proposed ITIR in three clusters/ agglomerations – firstly, Cyberabad Development Area and its surroundings, secondly Hyderabad Airport Development area and Maheshwaram in the south of Hyderabad and lastly Uppal and Pocharam areas in eastern Hyderabad. The implementation will be carried out in two phases.
