Vuda plans Rs 35cr commercial complex on jail land

The Visakhapatnam Urban Development Authority (Vuda) has decided to attract private investment for the construction of a commercial complex on the land where the Old Jail is located.

The jail, which is in the heart of the city, is spread over 22 acres. Besides the commercial complex, which would come up in 4 acres, Vuda is developing a public park in the remaining 18 acres.

"The proposed project would cost around Rs 35 crore. We have already selected the design prepared by one of the reputed architect companies from Dubai and are planning to invite bids for the project," P S N Raju (Ravi), chairman, Vuda, told Business Standard.

The proposed complex will be the tallest in the city with 30-32 floors, including three floors of parking space. Vuda would allot the land to a private investor on a build-operate-transfer (BOT) basis.

"To attract more investments to the tourism sector, particularly on beach front, Vuda has taken up a 25-km-long road expansion and beautification project. Several companies have submitted their bids and Vuda will finalise the tenders shortly. It is expected to be completed within 18 months," he added.

Apart from this, Vuda has handed over about half-an-acre of land at the beach road to Hyderabad-based KSR & Co for the construction of a three-star hotel on a 30-year lease. This company will invest about Rs 5 crore for the purpose, he said.

Raju said the Vizag-Bhimili beach road expansion project would be completed by mid 2007. Vuda and roads and buildings department are jointly spending Rs 60 crore to expand the existing two-lane road into a four-lane road.