It is raining big investments on the Port City, and it is expected to change the face of the city in the next five years.
The Marquee investments are obviously TCS and Cognizant.
Both the IT Giants got land at 99 Paisa per acre.
TCS got 21.6 acres of land on Hill number three of Rushikonda on a 99-year lease. TCS will invest 1,370 crores in this facility and will be creating 12,000 new jobs.
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Cognizant, on the other side, got 22.19 acres at the cost of 99 Paise per acre on a 99-year lease. It will provide employment opportunities to 8,000 people with an investment of Rs. 1582.98 crore.
Lulu Mall, which earlier (during Jagan's regime) vowed to never invest in AP.
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The LuLu Mall has been proposed near RK Beach at a cost of ₹1,500 crore. It would have 20 shopping malls, eight theatres, a children's park, and a hypermarket among other facilities.
Only the other day, the Sattva Group announced a Rs 1,500-crore investment to develop an integrated IT campus in Visakhapatnam.
The 30-acre Sattva Vantage Vizag Campus will be a landmark in the port city, featuring Grade A offices, premium residences, and sustainable, smart urban design.
Visakhapatnam is also emerging as a top destination for 5-star hotels, beach resorts, and high-end hospitality infrastructure. With scenic coastlines, improved airport connectivity, and growing tourist traffic, Vizag is becoming the preferred city for luxury hotel chains. Under the new Government, we have seen big-ticket investments by TATA, Varun Group, and Brigade Hotels.
And then, there is Google. The Government is working with the IT Giant to set up India's largest Data City in Vizag.
Once it happens, Vishakapatnam will be India's Digital Capital.
Lokesh already announced that land will be given at 99 Paisa per ace to any Top 100 IT Companies that would come forward to invest in the city.
Breaking the propaganda of Chandrababu Naidu neglecting Vizag for Amaravati, Nara Lokesh had made significant progress in Vishakapatnam in just one year.
If we look at the investments, it is clear that the focus is on employment generation as well as changing the ecosystem to encourage a spending economy by improving the ecosystem.
If this pace continues for the next four years, the city's landscape will be drastically changed.