The Hindu : Front Page : APIIC plans 60-storeyed structure near Hyderabad

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Thursday, Mar 16, 2006

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APIIC plans 60-storeyed structure near Hyderabad

Special Correspondent

HYDERABAD: It's going to be the signature building of Hyderabad and perhaps the tallest structure in the country -- a 60-storeyed trade tower that will house corporates, star hotels and even entertainment theatres.

The Government has earmarked a 97-acre site to the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for the proposed trade tower to be constructed at Manchirevula near Narsingi, in the Business District. According to APIIC Chairman A. Rambabu, who recently led a three-member corporation team to Kuala Lumpur, Malaysia, to study the famed `Petronas Towers' there, the modalities of the project were being worked out. After the initial expression of interest, global tenders were expected to be called in in a couple of months.

He said the Government was keen to have the tower completed in a couple of years by the time the Hyderabad International Airport at Shamshabad and the elevated expressway corridor would be ready.

The tower could either be a joint venture or with the APIIC as an equity partner, the modalities of which were yet to be worked out with consultants. He said a consultant, Fortune Capitals had been mandated to work out the plan. The APIIC was keen to start the work at the earliest in the next fiscal.

With regard to choice of the developer, the Government was prepared also to consider the Swiss challenge approach. "We will naturally give preference to those having experience in this kind of work," Mr. Rambabu observed.

Dubai visit

The APIIC officials are also planning to visit Dubai to study similar towers being developed by the Emmar Group. The Government had allotted 500 acres to the corporation at Raidurg for developing an IT park. It was proposed to divide the area into eight plots and offer them to developers, he said.

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