'Rushikonda SEZ denotification sent to Centre'.

VISAKHAPATNAM: The Rushikonda IT Parks Association (RITPA) on Tuesday said the state government has forwarded the file for denotification of the Rushikonda special economic zone (SEZ) to the central government. RITPA said the decision by the state government will finally pave the way for a new growth to be charted in the IT sector in Vizag.

In a release, RITPA said the move would facilitate new investments in the existing infrastructure of Hill Number 2 at Rushikonda. "There is readymade space of more than 5 lakh sq ft in the IT SEZ, which can now be leased out to new investors. This will create at least 5,000 jobs," RITPA said.

Furthermore, the association said banks will also fund the expansion of these units as they can now own land and building as it will cease to be an SEZ.

According to RITPA, the file will be sent to the ministry of commerce and industry for approval, following which the units will be operating only under the state government through the Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

The association also said if the IT&C department is shifted to Vizag and both, the APIIC and IT&C departments work in tandem, clearances and approvals will be faster, resulting in more investment pouring into the city.

Source : timesofindia.indiatimes.com