Dallas Tech Centre to Lease Premises to TCS in Visakhapatnam

03 Dec 2024 CW Team

The works to set up Tata Consultancy Services (TCS) facility in Madhurawada IT SEZ are progressing swiftly, following a proposal from Dallas Technology Centre (DTC) to lease its premises to TCS along with other arrangements. The state industries and commerce department issued a government order regarding this proposal.

DTC has requested an occupancy certificate, permission to sub-lease the premises to TCS, and the allocation of an additional 1,600 sq m at the original rate of Rs 6,720 per sq m.

Previously, the government had allocated Plot No A, measuring 7,774.90 sq m on Hill No 2 in Rushikonda to DTC. The sale agreement was executed on August 12, 2016, with possession of the plot transferred on September 8 of the same year. The company had received four extensions, with the final deadline set for August 9, 2026.

In a letter dated September 21 of this year, the Dallas Technology Centre had outlined plans to facilitate TCS operations, aiming to employ 2,000 IT professionals in Phase I. The current plan, which includes a ground floor plus three additional floors, accommodates only 1,400 employees, requiring additional space. DTC had requested an additional 1,600 sq m from the available 1,909 sq m.

The State Investment Promotion Board (SIPB) reviewed the proposal on November 19, following recommendations from the State Investment Promotion Committee (SIPC) meeting on November 16. After careful deliberation, the SIPB had recommended a special package for Dallas Technology Centre, which was subsequently approved by the government.

The government directed the special chief secretary, principal secretary, and secretaries of relevant departments, including E&F, S&T, power, roads and buildings, infrastructure and investment, industry and commerce (CIP), and finance, as well as associated departments, to expedite the project implementation through their HODs and PSUs.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..