Vijayawada: Brushing aside allegations that Ursa Clusters is a newly floated company, IT minister Nara Lokesh said that as per the agreement between the state govt and the company, registration of land would take place only when the company meets all conditions it promised.
“The conditions include meeting specific performance targets within specified timelines, creating jobs as promised, and completing the project within two years. Agreements are made based on the net worth of the promoters, technical assessment of the projects, expertise of the team members, and many other factors,” he told TOI.
Ursa Clusters promoter Satish Abburi said though the company was incorporated recently, they were working on the project for quite a long time. “Team Ursa includes Eric Wamer, Kaushik Pendurthi, and many others who have immense domain expertise. Eric worked with Sun Microsystem, Xerox, and Fujitsu and executed contracts worth over $500 million, while Kaushik raised $60 million in equity and venture capital funding,” he clarified.
Satish further noted that they did not get the land at 99 paise as is being alleged. “We proposed to pay Rs 1 crore per acre in the IT park and Rs 50 lakh per acre at Kapuluppada. Ursa has secured financial backing to fully execute phase 1 of the project within 12 to 24 months. We are fully transparent in stating that Ursa is newly incorporated and has taken a deliberate approach focused on operational essentials rather than premature administrative formalities,” he added.
Regarding the location and physical presence, the promoter of Ursa Clusters said they are operating in a lean mode during the approval phase, utilising interim facilities for practical considerations, and are planning to transition to permanent headquarters at the strategically appropriate milestone as they progress.
“Ursa operates globally with local subsidiaries, following standard practices for cross-jurisdictional infrastructure developers, ensuring regulatory adherence, investment optimisation, and operational adaptability. Ursa is committed to building AI infrastructure in India and is working with multiple state govts. The company has a global presence with projects in the pipeline in countries other than India and the US,” he said. Stating that Ursa prioritises transparency, Satish emphasised that appropriate legal action will be initiated to defend themselves against “misinformation and deliberate attempts to disrepute the company”.
