Polaris gets grant of 1.5 mn pounds

Polar is setting up of a Banking and Financial Application Certification Centre in Belfast, Northern Ireland.

Polaris Software Lab Limited, which on Thursday announced the setting up of a Banking and Financial Application Certification Centre in Belfast, Northern Ireland, will get a grant of 1.5 million pounds from Invest Northern Ireland.

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Talking to reporters in Chennai, Polaris CEO and Chairman Arun Jain said the centre would begin its operations in the first week of May.

Polaris would be investing 10 million pounds in the centre in three years period. It would have about about 1,000 people in the next three years from the present 300, he said.

Peter Hain, MP, Secretary of State for Northern Ireland, said that of the 1.30 million pounds being offered to Polaris, 200,000 pounds would be offered for training.

The agreement was signed by the CEO and the MP in Chennai on Thursday.

He said that the company would recruit locally in Ireland and the centre would act as a gateway for Polaris to the European Single Market.