The Andhra Pradesh government has recently taken up a project that is “expected to bring in” about 5000 high end IT jobs by various multi-national companies.
ANSR Consulting Pvt Ltd, Bengaluru have recently proposed to create a Special Purpose Vehicle (SPV) by the name of ANSR-AP that will implement a Global-In-House Project (GIC), under which Andhra Pradesh Industrial Infrastructure Corporation (APHC) will invest in Prime IT Hill3 area of Visakhapatnam.
“ANSR Consulting Pvt Ltd have proposed to create a Special Purpose Vehicle (SPV) by the name ANSR-AP to implement a Global-In-House Project (GIC) project in which AP Industrial Infrastructure corporation (APHC) will invest in the form of land to an extent of 10 acres in Prime IT Hill3 area of Visakhapatnam, whereas ANSR will bring in an investment of Rs. 500 crores through its partners, affiliates and GIC multinationals,” says Andhra Pradesh Government in a release.
The following are the advantages that the project will give Andhra Pradesh:
– A direct benefit of 5000 high end IT jobs will make the IT industry ecosystem more robust giving exponential growth opportunities in the State.
-Being the first of its kind in the State, this would give experience and opportunity of perfecting the model of attracting investments.
– Successful execution of the project by ANSR will have a positive impact of triggering more proposals coming to the State to setup GlCs in the State of Andhra Pradesh.
“Andhra Pradesh has everything to gain from this decision and working with ANSR Consulting Pvt. Ltd.” added the statement.