Infosys Signs MoU with Union Territory of Chandigarh to acquire land for expansion
Chandigarh, November 15, 2002: Infosys Technologies Limited (NASDAQ:INFY) today announced that it has signed a Memorandum of Understanding (MoU) with the Union Territory of Chandigarh Administration (UTCA) to buy 20 acres of land at the Chandigarh Information Services Park (CISP). The land will be used by Infosys to set up a Software Development Center in Chandigarh. Infosys currently has a 200 - people strong development centre in Mohali.
The proposed Infosys campus is expected to house 2400 Infoscions over the next 5 years, with suitable recreational facilities.
Mohandas Pai, Member of the Board & Chief Financial Officer said, "Infosys set up its first center in Mohali in March 2001. Infosys has followed a strategy of setting up world - class software development centers in places where there is rich local talent as well as the required infrastructure. Chandigarh has provided us with both of these and we are looking forward to expanding our operations in this beautiful union territory."
The MoU was signed by The IT Secretary Mr. Karan Singh, in the presence of Lt Gen J F R Jacob PVSM (Retd.), Governor of Punjab and Administrator, Chandigarh Union Territory and H R Binod, Associate Vice President - Commercial and Facilities, Infosys Technologies Ltd.
Making the announcement, Lt. Gen. J F R Jacob said, "We are pleased that Infosys is opening a development center in Chandigarh. The UT Administration is committed to promoting IT in Chandigarh. IT has managed to put India on the global map and companies like Infosys have brought India a lot of respect and pride. The UT Administration will extend its support to Infosys and other IT companies who would like to open a center in beautiful Chandigarh. Chandigarh offers its residents an extremely high quality of living and IT companies will find that there is adequate skilled manpower as well as infrastructure required for the successful running of an IT company."