Vizag SEZ gives nod for new IT units in Hyderabad

Visakhapatnam: THE Unit Approval Committee (UAC) of Visakhapatnam Special Economic Zone-Visakhapatnam chaired by its Development Commissioner A Rama Mohan Reddy took certain crucial decisions on expansion and establishment of new IT and ITES units in Telangana. There are a total of 61 SEZs operational under VSEZ and out of that 30 SEZs fall under the IT

sector and 26 out of them are operational in Telangana. The biggest-ever expansion of IT/ITES units in the past many years, has been approved by UAC in Thursday's meeting. Units to the extent of 1.27 mn. sq. ft, has been approved, and this will further enhance the exports from SEZ, to the tune of Rs 6,237 crore, Reddy said in a release issued here on Friday.

The UAC in its meeting approved expansion of three existing SEZ units namely Wells Fargo International Solution, Mass Mutual Global Business Services, Tech Mahindra Limited, all located in Hyderabad, by 12,70,583 sq. ft. This would result in projected consolidated exports to the tune of Rs 6,237 crore and generate new employment to 8,920. The units will invest Rs1,211 crore in the next five years. All these locations are existing in Divyasree NSL, BSR Builders and TSIIC SEZs. The meeting was attended by all officials, besides the units and developers.