(MENAFN- IANS) Visakhapatnam, Oct 12 (IANS) Andhra Pradesh's Minister for Information Technology, Electronics and Real Time Governance Nara Lokesh said on Sunday that Visakhapatnam can develop at par with Hyderabad in 10 years.

He said that while it took Hyderabad 30 years to be what it is today, Visakhapatnam can achieve this in 10 years.

Lokesh was speaking at an event where he laid the foundation for Sify Technologies' Rs 1,500 crore AI Edge Data Centre and Open Cable Landing Station (CLS) here.

The 50-megawatt facility is being developed by Sify, a subsidiary of NASDAQ-listed Sify Technologies, on 3.6 acres of land allotted by the state government.

The minister exuded confidence that the AI Edge Data Centre and CLS will make Vizag "India's next global digital gateway", strengthening subsea connectivity and AI infrastructure.

The project is expected to create employment for over 1,000 people and enhance AI computing capacity at the edge level. It is also expected to improve data exchange between India and Southeast Asian countries such as Singapore, Malaysia, and Thailand, as well as Australia.

Lokesh said the government has set the target of making Visakhapatnam a $1 trillion economy by 2047.

Stating that Andhra Pradesh is attracting $120 billion in investment, he said nearly half of this investment would come to Visakhapatnam.

"We are creating history. Out of $120 billion commitments of investments that are coming into Andhra Pradesh, close to 50 per cent is coming to the Greater Economic Region of Visakhapatnam," he said.

Lokesh said he had also set the target of creating five lakh jobs in the IT sector in Visakhapatnam. He said the government is committed to creating 20 lakh jobs across the state as promised under Super Six.

"The double-engine government is racing ahead at bullet train speed. Today, Honourable Prime Minister is going all out to support the economic agenda of Andhra Pradesh," he said.

He said the Centre was rolling out all new reforms from Andhra Pradesh because it believes that the government in this state can deliver at a fast pace.

Stating that Visakhapatnam is emerging as a great investment region, he said that in the next three months, several announcements will be made about new investments in the coastal city.

He said India's largest steel plant and India's single largest FDI project is coming to Visakhapatnam.

The IT Minister said that the government is also trying to develop Visakhapatnam as the capital of Global Capability Centres (GCCs).

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