Infosys signs MoU Andhra for expansion in Hyderabad

By : |March 27, 2006 0

BANGALORE: Infosys Technologies today announced that it wishes to expand its presence in Hyderabad in 550 acres of land.

The Government of Andhra Pradesh has already identified 150 acres for Infosys and the balance of 400 acres will be identified in the near future.

A Memorandum of Understanding (MoU) to this effect was signed with the Government of Andhra Pradesh in the presence of the state chief minister, Dr. Y. S. Rajashekara Reddy.

N. R. Narayana Murthy, chairman & chief mentor and T. V. Mohandas Pai, chief financial officer and director (Finance and Administration) represented Infosys Technologies.

“We are happy to announce our expansion plans in Hyderabad,” said Murthy. “The state has a healthy investment climate and the Government has been very supportive. We intend to invest Rs. 1250 crore in the next 10 years to create a new state-of-the-art campus in Hyderabad and have therefore requested the Government for sufficient land for future expansion. The plan is to generate employment for 25,000 software professionals over this timeframe.”

Infosys plans to invest Rs. 450 crore in the first phase of the project and invest Rs. 400 crore each, in the second and third phases of the project.

The Infosys Hyderabad Development Center (DC) in Gachibowli currently employs over 5000 software professionals.

© CyberMedia News

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