Hyderabad, Oct 23 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today favoured the proposal to allot minimum ten per cent land in the Special Economic Zones (SEZs) in the city for small and medium enterprises in the IT sector with ten per cent subsidy of the land cost.
The IT Department said the companies cannot establish their own SEZs, unless it possess minimum 25 acres as per the present norms and regulations.
Dr Reddy was reviewing issues related to IT promotion in the State.
The Chief Minister also agreed to the proposal for establishing IT cities near Mahbubnagar and Nalgonda, about 60 kms from the international airport.
He asked the IT department to ensure the establishment of Tier-2 IT cities at Vishakhapatnam, Vijayawada, Mahbubnagar, Warangal, Kadapa, Tirupati, Nalgonda, Kurnool, Kakinada among others.
The Chief Minister agreed in principle with the criteria for allotment of lands to IT companies, parks and IT SEZ developers and assured that the government would take into account the companies annual turnover and existing employment strength.
Dr Reddy would release the logo on October 26 for the Hyderabad IT summit 'Empowering IT with World Class Infrastructure' from March 20 to 22, 2008 in the city.