AP News Business Infosys gets alternate site in Pocharam, Hyderabad
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| Infosys gets alternate site in Pocharam, Hyderabad |
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Pocharam, it seems, is set to gain from the fracas witnessed during the
last few months in Mamidipalli and Kancha Imarat, two villages under
the Ranga Reddy district in Andhra Pradesh. IT giant Infosys has been provided 435 acres of land as an alternate venue. This come after the state government was unable to take back 100 acres of land, within the earlier promised venue, belonging to IMG Bharata. The earlier government led by N Chandrababu Naidu had already committed the 100 acres during its tenure to IMG Bharata for the setting up of a sports project. Infosys reportedly agreed to the alternate land in order to avoid the litigation. The IT advisor to the government of Andhra Pradesh, CS Rao, confirmed the development here today. “Infosys would be given the land at the New Singapore City,’’ stated Rao. In a Memorandum of Understanding signed by the Andhra Pradesh government and Infosys last year, the latter was promised a 550 acres space at Mamidipalli to expand its operations in the state capital. The land was offered to Infosys at Rs 12 lakh an acre. The new site is being offered to Infosys at a similar price. An agreement to this regard is expected very soon. Infosys plans to employ about 25,000 professionals after the residential campus is fully completed. Infosys chief mentor NR Narayana Murthy, during his visit to the city last year, had announced that the company would ramp up its headcount to 25,000 and invest Rs 1,250 crore over the next 10 years. Infosys already has a campus at Manikonda in Hyderabad. Source: CIOL             |