Date:23/06/2007 URL: http://www.thehindubusinessline.com/2007/06/23/stories/2007062302032100.htm

Back Genpact gets 50 acres for SEZ

Our Bureau

Hyderabad June 22 The Government of Andhra Pradesh has allotted 50 acres of land to global business and technology services provider, Genpact, to set up a Special Economic Zone (SEZ) at Shamirpet near here.

Mr Shailendra Kumar Joshi, Secretary, Department of IT &C, Government of AP, and Mr Ashok Tyagi, Senior Vice-President (Enabling Services) Genpact, signed a memorandum of understanding here on Friday.

Speaking on the occasion, Mr Tyagi said the company would invest over Rs 250 crore in the first phase of the SEZ. "We will have to hire over 5,000 professionals once the project becomes fully operational," he said. It has a headcount of over 8,000 in Hyderabad now.

Pact with Orissa

The firm, which employs over 30,000 globally, would also be setting up its campus in Bhubaneshwar. "Very recently, we have signed an MoU with the Government of Orissa," he said. The company presently operates its facilities in seven cities across the country.

Mr R. Damodar Reddy, Minister for Information Technology and Communications, Government of AP, said the land had been allotted to Genpact at Rs 50 lakh per acre. "While Rs 25 lakh is the land value, we are charging Rs 25 lakh for development costs," he said.