To boost technology and innovation, the Telangana government in collaboration with a few private companies is setting up a new information technology (IT) tower in the Old City of Hyderabad. Called iTEK Nucleus, this ₹700 crore tower is expected to cover an area of 11 acres. It will have 30 storeys and a built-up area of approximately 1.5 million sq ft. The project will be completed in around three years and is expected to generate about 50,000 jobs.