1st Financial business process in Amravati

Vijayawada February 09: The first financial business process outsourcing (BPO) firm in Amaravati is likely to come up in the information technology special economic zone (SEZ) at Gannavaram. It is learned that the BPO will be housed at Medha Towers.

According to information, 42,000 sft of space has been allotted to the BPO which is expected to create jobs for 350 people in the first phase. Medha Towers has a built-up area of 2,00,000 sft.

It may be recalled that Medha IT Towers, a joint venture by the special purpose vehicle comprising L&T and Andhra Pradesh Industrial Infrastructure Corporation (APIIC), was built in 2008 and subsequently failed to attract IT firms for various reasons. While L&T holds a major share of 74 per cent, APIIC has 26 per cent.

Even though there were reports that the Andhra Pradesh government had asked the Union government to denotify the SEZ, vice-chairman and managing director of APIIC J Nivas told to media that the proposal to denotify is still in the early stage