Hyderabad, March 27 (IANS) IT major Infosys Technologies Ltd Monday said it proposed to invest Rs.12.5 billion ($280.27 million) in its Hyderabad campus and ramp up the headcount here to 25,000 software professionals over the next decade.
The leading IT firm signed a memorandum of understanding (MoU) with the Andhra Pradesh government to expand its operations here. The state government has allotted 550 acres of land for the firm's new campus in Hyderabad.
Infosys plans to invest Rs.4.5 billion in the first phase of the project and Rs.4 billion each in the second and third phases.
The MoU was signed by Infosys senior vice-president (commercial and facilities) H.R. Binod and IT Secretary K. Ratna Prabha, in the presence of Chief Minister Y.S. Rajasekhar Reddy, Infosys Chairman and Chief Mentor N.R Narayana Murthy and Infosys Chief Finance Officer and Director Finance T.V. Mohandas at Infosys Hyderabad campus.
'We are happy to announce our expansion plans in Hyderabad,' Narayana Murthy said.
'The State has a healthy investment climate and the government has been very supportive. We intend to invest Rs.12.5 billion in the next 10 years to create a new state-of-the-art campus in Hyderabad and therefore requested the government for sufficient land for future expansion.
'The plan is to generate employment for 25,000 software professionals over this time frame,' he added.
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