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Infosys to invest Rs 1,918 crore to develop three new campuses

The company has claimed in its proposal that it will create 27,000 new jobs from these three projects.

By: ENS Economic Bureau | Bengaluru | Published: August 31, 2015 12:56:52 am

The Karnataka government on Saturday approved a proposal from IT major Infosys to set up three more campuses in Bengaluru at an investment of Rs1,918 crore.

The State High Level Clearance Committee (SHLCC), headed by the chief minister Siddaramaiah approved several other investment proposals for a combined investment of over Rs 20,000 crore.

Infosys has proposed to develop one new campus at Electronic City and two new campuses at Konappana Agrahara in Bengaluru South taluk. The company has claimed in its proposal that it will create 27,000 new jobs from these three projects.

Chief minister Siddaramaiah presided over the meeting. Minister for information technology, biotechnology, science and technology, planning and statistics SR Patil; minister for major industry RV Deshpande; minister for infrastructure development Roshan Baig and principal secretary, IT-BT Department V Manjula discussed new investment proposals before the approval was given late Saturday evening.

With this, the Infosys will invest $290 million (Rs1,918 crore) on three campuses. It will be investing Rs 625 crore in its 10.04-acre campus at Konappana Agrahara and create 8,500 jobs. In the same area (Konappana Agrahara) the IT major has planned a Software Technology Park with an estimated cost of Rs1,079 crore. At this project, the number of direct employment would be 15,000.

Another project is at Electronic City, where Infosys will invest Rs 216 crore. This will create job opportunities for 3,500 techies, the government said in a statement.

Government also cleared a proposal from Mangalore Refinery and Petrochemicals Limited with an investment of Rs 20,000 crore and another proposal from Biosciences with an investment of Rs235 crore. FE

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