Hyderabad, May 19: As Chief Executive Officers (CEOs) of several US-based Information Technology companies have evinced interest in starting operations here, the State Government has speeded up its plans to construct the prestigious Fab City project on the city outskirts.

The civil works were likely to commence within a month and completed in six to seven months, Information Technology Minister R. Damodar Reddy stated at a news conference on Friday.

Fresh from a visit to the US, Mr. Reddy said his interaction with CEOs during the tour convinced him that over 200 IT companies were interested in setting up units here. The Government would extend all facilities to them and was even prepared to modify the IT policy to suit their requirements, he said.

Red tapism

The companies had raised minor problems related to red tapism that came in the way of investments in the State. They wanted single window system of clearances that would be considered. To listen to the grievances of the investing NRIs, Mr. Reddy said he would be available to them along with Advisor (IT), C.S. Rao, and senior officials here every Monday and Tuesday from 3 p.m. to 5 p.m. Their problems would be addressed instantly.

The Minister also said he had tried to clear the apprehensions of small and medium IT enterprises in US that incentives and subsidies in the sector were extended by the State Government only to mega projects. The Government had recognised the role of these enterprises in achieving its objective of generating employment for 2.5 lakh youth in the next two years.

He added that delegations of IT firms in US would visit the State in November to firm up their plans.