New lease of life for Medha IT Towers.

Posted by on May 1, 2017
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medha towers gannavaram
Vijayawada: Medha Towers (L&T Hitec City Limited) near Gannavaram, which almost faced a death blow since the government decided two years ago to partly take over the facility for the Secretariat office, is finally back on the track.

The two units of the same company functioning quietly in the Tower that has 1.8 lakh sq.ft. built-up space are going to get a bigger company of seven IT/ITeS companies in the Special Economic Zone that took shape in 2010.

These companies, including Spain’s Grupo Antolin, IES, U.S., Hollywood VFX (a division of Rotomaker), Chandu Software Solutions, Meslova Systems Pvt. Ltd., Yamyah IT Services and EP Soft that signed a deal to occupy about 43, 000 sq.ft. of built-up office space. Grupo Antolin, which makes interior designing software technologies for top automotive brands, is coming up in 10, 650 sq.ft. of area and is the biggest.

Each unit of Meslova, Hollywood VFX and EP Soft are going to come up in a near 8,000 sq.ft. area in the tower. All the seven companies will have an employee strength of 1,000 to 1,200 initially, according to sources.

The A.P. government and the APNRT Society played a key role in getting these companies to rent space in the Medha towers.

At present, there are only about 200 IT professionals working in two units of a city-based software firm that exports services in the U.S. and other countries. They occupy space of 13,000 sq.ft.

Two years ago there were five companies operating out of the tower with about 400 employees. Following bifurcation of A.P. and need for office space for various government buildings ministers of the State considered the Medha Towers for HoD offices and Secretariat. Efforts for de-notifying the SEZ were also made before the decision was finally called off.

Also, the government and HCL Technologies together announced that a development centre of the latter would be coming up in Medha soon.

It is learnt that about 20 more companies are actively considering to occupy 60, 000 sq.ft. space in the Tower and talks are on.

On May 3, IT Minister Nara Lokesh will inaugurate the office premises of the seven companies. However, it takes time for all the companies to start functioning.

Source: The Hindu
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