In a bid to make Telangana attractive destination for investors from within the country and abroad, the State Government on Tuesday announced a single window clearance facility to provide fast and efficient clearances of proposals and projects.
Telangana Chief Minister K Chandrashekar Rao said that his Government is also committed to facilitate the rapid growth of information technology sector in Hyderabad by putting in place all the required mechanism.He was speaking after inaugurating the 2.1 phase of Wave Rock IT Park of Tishman Speyer and ICICI Venture at Nanakramguda near HITEC city. He also launched the work of the 2.2 phase of the park and promised full support for Technocity project proposed by Tishman Speyer.
Chief Minister said he had already set up a chasing cell in his office. “The cell would ensure that investors are brought straight to me and after the required processes, hand over all clearances at the earliest for them to start work,” he said.As part of this endeavor, KCR also declared zero tolerance for corruption and a peaceful environment for the industries. “We want to make Hyderabad a digital city. This should become a hub of innovation,” he said.
KCR, who became the first Chief Minister of Telangana in June, has been laying emphasis on the IT industry as a growth sector. “Hyderabad has a bright future. I am assuring you that investors will not have any difficulties,” he said.Minister for information technology K Taraka Rama Rao said that Hyderabad’s brand image and the growth are affected by several factors including political instability and lack of decisive leadership. “Now there is a decisive leadership and political stability and we will ensure the city’s growth in the field of IT,” he said.
Tishman Speyer has invested `200 crore in the 2.1 phase of Wave Rock to create 7 lakh square feet of workspace and accommodation for 7,000 IT professionals. The company will invest another Rs 250 crore in the next phase of the IT Park. Many companies including DuPont and Capgemini will be among the occupants of the newly inaugurated phase. On the whole, Tishman Speyer will invest Rs 1,050 crore in Wave Rock Project which will have capacity of 2 million square feet.
Tishman Speyer Chairman and Co-Chief Executive Officer Jerry Speyer thanked the Telangana Chief Minister for single window facility and promised to expedite the work on the Technocity Project.