Team Hello Vizag
- The Andhra Pradesh State Investment Promotion Board (SIPB) has approved 10 IT and futuristic technology projects involving a total investment of ₹526.25 crore.
- Two of the approved projects are planned for Visakhapatnam, involving Deloitte and Muthoot Fincorp.
- Deloitte has received approval to invest ₹43.75 crore to establish a state-of-the-art operations centre in Vizag.
- The proposed Deloitte centre will have a capacity of 2,500 seats.
- Muthoot Fincorp has received approval for a ₹100-crore Integrated Hub for AI and Tech Training Centre in Visakhapatnam.
- The proposed Muthoot Fincorp facility will have a capacity of around 2,400 seats.
- Together, the two projects represent ₹143.75 crore in proposed investment in Visakhapatnam.
- The wider SIPB approvals are projected to create 8,896 jobs across Andhra Pradesh, according to the state government.
- The other approved projects include initiatives in quantum computing, photonics, AI-driven biotechnology and advanced technology.
- Seven of the 10 approved projects are focused on quantum technology, with major developments planned in Amaravati.
- The latest approvals add to Visakhapatnam's ongoing development as a location for IT, AI and technology-led services.
- The approvals indicate proposed investments; the facilities will still need to be established and brought into operations.
