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SYNTEL TO INVEST US$20 MLN IN CHENNAI IT CORRIDOR, HIRE 1500.

AsiaPulse News

| March 02, 2005 | COPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

CHENNAI, March 2 Asia Pulse - Outlining its plans that included new investments for US$20 million and hiring 1,500 people during this year, Syntel (India) Ltd today said that it had acquired 28 acres of land on IT corridor of Chennai and would be setting up a big facility in the next one year or so.

Syntel India, a wholly-owned subsidiary of Nasdaq-listed Syntel Inc, a US-based global applications and BPO enterprise, has acquired 27.52 acres land on the Old Mahaballipuram Road, IT corridor of Chennai, for a cost of about US$1.5 million.

"We will be making significant investments in Chennai. We will soon be finalising our investments and the size of the facility. We may invest about US$20 million in Chennai alone and create around 400,000 sq ft facility in the ...

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