The Union Minister of Human Resources Development, Dr M M Pallam Raju laid a foundation stone for construction of Indian Institute of Information Technology Kakinada (IIIT K).
The new IIIT Kakinada building will be constructed at Thandangi.
The foundation stone for the IIIT Kakinada was held at Jawaharlal Nehru Technological University (JNTU), Kakinada. The representatives from TCS, GMR Group, Accenture and others companies were participated in the program.
The new IIIT Kakinda will be built in a cost of Rs 180 crore and with 100 acres of land. Around 50% of project cost will be taken care by Central Government, 35% by State Government and remaining 15% by the Corporate Companies.
JNTU-K Vice-Chancellor G. Tulasi Ram Das said, "Kakinada has already become an educational hub with several engineering colleges with excellent research labs, and it will soon become an industrial hub as well."
GMR Group Business chairman and managing director B.V. Nageswara Rao said, "The IIIT-Kakinada would serve as the growth engine for the development of not only the region, but also Andhra Pradesh, through the Kakinada Special Economic Zone and Coastal Corridor."
The Union government has sanctioned 20 IIITs in the country, including three in Andhra Pradesh. Of these two have come up at Hyderabad and Chittoor, the Congress Lok Sabha MP from Kakinada said.
"Andhra Pradesh has secured a vital position in IT sector in the country. These IIITs in Andhra Pradesh will help in providing infotech education to a large number of youths. The IIIT here will benefit the coastal Andhra people." Raju said.