Franklin Templeton gets 40 acres to set up tech campus in Vizag

Andhra govt has also extended financial support for a 10,000 sq ft incubation unit by promising a monthly rent of Rs 390,000 for 2 years

Global investment firm Franklin Templeton Investments (FTI) is setting up a large technology development campus in the port city of Visakhapatnam along with its affiliate, Innova Solutions Inc., on a 40-acre plot facing the sea.

Acting on a detailed proposal given last month by the US firm, Andhra Pradesh government has allotted 25 acres to FTI and 15 acres to Innova on Rishikonda, now home to Fintech Valley, besides extending other incentives through orders issued earlier this week.

Besides offering land at a concessional rate, the state government has extended financial support for a proposed 10,000-square feet incubation facility of the US