HYDERABAD: US-based semiconductors and wireless technology giant Qualcomm is establishing a mega centre spread over almost 1.6 million sq feet at a SEZ in Hyderabad. This is going to be the biggest SEZ leasing deal on Telangana. It is going to likewise function as Qualcomm’s biggest centre in India. The Qualcomm centre, to be placed over 17 storeys in the Sustain Properties Pvt Ltd SEZ being manufactured by K Raheja Group in Raidurg, will demand a cost of Rs 3,904 crore and can produce approximately 8,700 jobs during the following five decades, the Visakhapatnam Special Economic Zone (VSEZ) stated on Monday. The mega SEZ centre is anticipated to make IT services exports to the tune of Rs 28,658 crore during the next five decades, ” it said. The project also has obtained approval in the device acceptance committee of VSEZ in a meeting held recently. All of SEZs at Telangana fall beneath VSEZ. Qualcomm will begin with taking ownership of four storeys in the SEZ at September and ramp this up together with the center expected to become completely operational by September 2022, VSEZ growth commissioner ” A Rama Mohan Reddy explained. The business is intent on establishing its own campus with an expense of about $400 million. The agreement was originally declared by the Telangana IT & business ministry KT Rama Rao’s office at October 2018 however the campus proposition was discovered to have been as the property originally identified for the job turned out to become disputed one. Observing this, the US monster has been learnt to have opted to choose a rented facility in town, in which it has two or three centers it is going to be merging in the approaching SEZ centre, sources said.
Qualcomm strikes Largest SEZ Rental deal in Telangana
