HYDERABAD: As part of the efforts to develop Hyderabad as a major Information Technology (IT) hub, the Government has identified 5,000 acres along the outer ring road for allotment to IT companies.

The identified land is not contiguous and is located at different places abutting the outer ring road in the city and Ranga Reddy district.

This is in addition to the proposal to create a `Hyderabad knowledge corridor' across a vast stretch of 20,000 acres, official sources told The Hindu here on Wednesday.

Township

The corridor envisages the development of an ultra-modern satellite township and will house knowledge-centric industries. "With the software exports crossing Rs. 8,000 crores this year, we are aiming to double it by next year. Eventually we will catch up with Bangalore," the sources added.

The Government also allotted two-tier cities in the State, apart from Mumbai, Delhi, Chennai and Bangalore to high-ranking officials to woo IT companies through a promotion and marketing drive. The two tier cities in which the promotion drive will be taken up are Visakhapatnam, Kakinada, Guntur, Vijayawada, Nellore, Tirupati and Warangal. After Hyderabad, Visakhapatnam was emerging as an important IT destination in the State. Land has been allotted for 14 IT companies and applications were pending from several others. While allotting the land, individual packages could be worked out for big players, the sources said.

Conditions

The companies, which have been allotted land at Visakhapatnam were told to build infrastructure within one year or else the allotment would be cancelled and given to others. The IT policy announced by the Government earlier offered a host of incentives, including a rebate of Rs. 20,000 for every job created.

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