Infosys to expand Hyderabad operations: signs MoU with Andhra government
By Our Corporate Bureau | 27 Mar 2006
Infosys Technologies Ltd has planned a major expansion of its operations in Hyderabad. In the first phase of the expansion, Infosys plans to invest Rs450 crore. This will be followed by an investment of Rs400 crore each in the second and third phases of the project.
Of the 550 acres required by the company for its expansion, the government of Andhra Pradesh (AP) has already identified 150 acres while the remaining 400 acres will be identified in the near future, says the company.
Infosys and the AP government signed an MoU, during which Andhra Pradesh's chief minister Dr V S Rajashekara Reddy was also present.
Explaining the rationale for the expansion at Hyderabad, N Narayana Murthy, chairman and chief mentor, Infosys Technologies, said, "The state has a healthy investment climate and the government has been very supportive. We intend to invest Rs1,250 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."
The Infosys Hyderabad Development Centre in Gachibowli currently employs over 5000 software professionals.
