Infosys to start new campus in Shanghai; to invest $125-150 mn
The country's second largest software exporter Infosys Technologies today said it plans to invest between $125-150 million in its new campus in Shanghai, China.business Updated: May 21, 2011 12:44 IST
The country's second largest software exporter Infosys Technologies on Saturday said that it plans to invest between $125-150 million in its new campus in Shanghai, China.
"Infosys plans to invest between $125-150 million in the new campus, one of the largest investments in China by a software company," the company said in a statement.
Infosys on Saturday laid the foundation stone for the new campus, which will be spread over 15 acres and will be developed over a period of three years.
With an overall seating capacity for 8,000 employees, the campus will have facilities for software development, labs, data centres, training facilities, food courts, a 1,500-seater auditorium, gym, and other recreational facilities.
The Shanghai campus will be the largest overseas software development centre of Infosys adhering to the highest environmental standards, it said.
"As the second largest economy in the world, China will lead the world in economic growth in the future and we see exciting times ahead. This large investment is a testimony to Infosys' commitment to China," Infosys chief mentor and chairman of the board N R Narayana Murthy said.
"We will use our enhanced capacity here to deliver high quality consulting and software services to the global markets as well as to our clients in China," he added.
Infosys Technologies (China) CEO Rangarajan Vellamore said with this investment and enhanced capability, the company aimed to lead service capability out of China to global and local markets.
"When this campus is completed we expect to have over 10,000 employees in Shanghai alone," Vellamore added.
Infosys China was incorporated in 2004 and had revenues of over USD 78 million in fiscal year 2011.
The company has invested in development centres in Shanghai Pudong Zhangjiang HiTech Park, Hangzhou Binjiang HiTech Park, Beijing China Oversea Plaza, a sales office in Hong Kong and a global education centre in Jiaxing Science city.
Infosys China employs over 3,300 people in China and has already invested USD 23 million in capital and has office space for 4,200 people in China, the statement said.