Infosys likely to start operations in 3 years in Mihan Nagpur

Infosys likely to start operations in 3 years in Mihan Nagpur

Well Friends... the move is still short of clinching the final deal with this state government company which will ultimately lead to allotment of land to Infosys in the SEZ.

The documents were signed in Nagpur by chief minister Prithviraj Chavan who is chairman of MADC. Some senior bureaucrats and politicians were present.

Technically, an MoU differs from an agreement as the former is generally an expression of willingness by the two parties to enter into a pact if certain conditions are met by both.

State governments often sign MoUs with prospective investors from the industry some of which materialize. In this case, other formalities are being done. MADC has called it the biggest investment proposal so far.

Infosys proposes to take up 142 acres of land in the SEZ, where it plans to come up with its 12th campus in the country. CEO and managing director SD Shibulal told the media that the company plans to invest Rs 150 crore and that 2,000-3,000 jobs would be created in the initial phase. The operations are likely to start within three years, added Shibulal.

The overall investment of company is likely to touch the Rs 450 crore mark. By the time the company gets operational, 14,000 jobs for software professionals would be created. The unit is expected to create a substantial number of indirect jobs as well.