Wipro to expand operations in Visakhapatnam
IT major Wipro plans to expand its operations in coastal city of Visakhapatnam in Andhra Pradesh with an investment of Rs.500 crore.
Wipro chairman Azim Premji Sunday met Andhra Pradesh Chief Minister N. Chandrababu Naidu and discussed the expansion plans.
Information Technology Minister P. Raghunath Reddy said that the Wipro chairman sought approval to develop a Special Economic Zone (SEZ) and Naidu agreed to the request.
The SEZ will come up on three acres of land. The facility comprising five lakh square feet will create an employment of 6,400 over next five years
The minister said Wipro was allotted 7.14 acres of land at Rs.80 lakh per acre in 2004-05 with an employment commitment of 2,000. Out of this, the company constructed two lakh square feet space in four acres and is presently employing 650 professionals. The SEZ will come up on the remaining land.
Naidu requested him to expand to other locations like Tirupati, Vijayawada and Kakinada.
Premji also sought 50 acres of land near Hindupur to set up soap manufacturing and fatty acids manufacturing plant. The minister said the plant would see investment of Rs.500 crore.
Raghunath Reddy claimed that Tech Mahindra was also coming forward to expand its operations in Visakhapatnam, where the government plans to develop a mega IT hub over five million square feet through public-private partnership.
(Posted on 27-07-2014)
Free Yearly Horoscope: Select your zodiac sign