Infosys to invest $65 million in China in the next five years

Our Corporate Bureau
05 July 2005

Bangalore: Infosys Technologies (Shanghai) Company Ltd., the China subsidiary of Infosys Technologies Ltd., today signed letters of intent with Shanghai Zhangjiang (Group) Company Ltd. and with the Administrative Commission of Hanghzhou Hi-Tech Development Industry Zone, Hangzhou, to set up software development centres in China. Infosys currently has 250 employees in China.

Infosys has committed to making a total investment of $65 million in the next five years in the new centres in Shanghai and Hangzhou, which will accommodate 6,000 engineers. The Shanghai centre, to be built on 25,000sq meters of land will get an initial investment of $10 million in the next two years. On the Hangzhou project, Infosys plans to invest $15 million for a centre on 100,000sq metres of land, in the next two years.

James Lin, CEO and managing director, Infosys Technologies (Shanghai) Company Ltd., said, "Infosys follows a strategy of setting up world-class software development centers in locations where there is rich local talent as well as the required infrastructure. It will also enable us to combine local talent with 'Infosys' global delivery model' to provide our clients with best-in-class services. We thank the Government for their support and commitment towards promoting centers of excellence in the region."

Chen Jianbo, CEO, Shanghai Zhangjiang Group Co. Ltd said, "As part of our vision for Shanghai, we are committed to creating a pervasive IT culture in the city. Infosys' new centers in the region are proof of the IT-friendly policies rolled out by the government in attracting world-class organisations. We wish Infosys all success in this venture and hope these development centers will be a model for others to follow."

Lin said that the new centres will undertake projects in software development, IT services and IT enabled services and will also act as one of the training and research centers of the company.