The Andhra Pradesh government has announced the construction of a Business Park in Visakhapatnam at Hill no. 3, Madhurawada. The proposed land parcel of the project is 19 Acres. This business park is a Joint Venture issued in the name of “I-Space Business Park”.
Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has proposed the development of this project under the Public-Private Partnership (PPP) Model. The ministry recently issued the Expression of Interest (EOI) inviting proposals from the interested parties. The business park aims to attract investment in IT, ITeS, Commercial firms, Business centers, etc.
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APIIC has invested approximately 2300 INR-Crore in I-Space Business Park. The pre-EOI Video conference for this project will be held on October 13, followed by a pre-bidding meeting with a prior announcement.
The auxiliary or support components of the project include Incubators, Meeting and Conference spaces, Business hotels, Services apartments, open-air Theater, food and beverage facilities, etc. The said business park will have easy access to the proposed Beach corridor and the six-lane expressway between Visakhapatnam and Bhogapuram International Airport.
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