Telangana IT Minister K Taraka Ramarao laid the foundation of iconic IMAGE (Innovation in animation, Multimedia, Animation, Gaming and Entertainment) Tower at Hyderabad Knowledge City in Raidurgam of Ranga Reddy district.
A public-private venture, this tower is estimated to cost Rs 945 crores and will be built on 16 lakhs square feet area by 2020.
The tower will be built in the letter ‘T’ resembling Telangana and Technology. With this Tower, Hyderabad will become the hub of AVGC. Till date Cyber Towers has been the hub of IT but slowly IMAGE Tower will be taking over it.
Addressing the meeting KTR said Quli Qutub Shah built the iconic Charminar 430 years ago while the IMAGE Tower will be an icon to the present generation. He said there had been a huge response to the IMAGE Tower design in Twitter and the whole world is looking towards Hyderabad.
KTR said nearly a hundred companies with 30 thousand employees are working in VFX, 2D and 3D Animation and Gaming in Hyderabad. He said Hyderabad develops and exports content worth $300 million to America.
He credited the Hyderabad VFX companies for their commendable job in blockbuster films like Baahubali, Arundhati, Life of Pi, Magadheera and Eega.