Financial Daily from THE HINDU group of publications
Wednesday, May 18, 2005
Corporate - Diversification
Miracle Software plans foray into tourism sector
Ch. R.S. Sharma
Vizianagaram , May 17
MIRACLE Software Systems, which has set up a software development centre at Bhogapuram in Vizianagaram district, is planning to take up a tourism project at a cost of Rs 20 crore soon after obtaining the necessary clearances from the State Government, according to Mr Prasad V. Lokam, President and CEO.
He told visiting newspersons recently that his company had acquired 500 acres at Bhogapuram and invested roughly Rs 30 crore for creating the software export centre and other facilities. "We also have a call centre here, but our focus is on software development."
He added that the company was keen on setting up a beach resort in the vicinity of the Miracle City.
"It is a fine beach we have here in Vizianagaram, though very few are aware of it. We want to create the requisite infrastructure and attract the tourists visiting Vizag to the spot. It is not very far from Vizag. It will be much less crowded than the Vizag beach."
A golf course, a temple complex, a boat club, pubs, a yacht club, and other amenities would be provided to tourists.
Mr Prasad said that the company currently employs 500 software professionals at the Bhogapuram centre.
"It is my ambition to develop it into a major centre. We want to step up our operations and recruit 1,000 more employees," he added.
The State Government has agreed to allot the company land in the proposed IT park at Rushikonda. "We are planning to invest Rs 30 crore more there."
He was confident that Visakhapatnam would develop into a major IT and tourist centre.
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