TCS to invest Rs 55 crore on a new office in Indore’s SEZ

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Office

   Technology giant Tata Consultancy Services (TCS) will soon start a new unit in Special Economic Zone with over 2,000 employees and investment of Rs 55 crore.

   The unit will be a standalone one in addition to its existing building in SEZ.Development Commissioner’s office, Special Economic Zone, issued letter of approval for building the new unit on April 17.

   “We have given letter of approval to TCS to start a new standalone unit in special economic zone. This unit would come up near to their existing infrastructure and will start in this financial year,” development commissioner Indore Special Economic Zone, JM Gupta said.

   The company has proposed to invest Rs 55 crore in a staggered manner in this standalone export oriented unit which will have a workforce of 2,150 people.

   In a letter written to development commissioner, the company has proposed exports of Rs 560 crore in next five years. The new unit will be set up on 96,000 sq mt and work is likely to start in a month’s time.

   “TCS has not provided a timeframe for starting operations from this new unit but as per the proposal, they were keen to get active soon,” Gupta said.

   The existing infrastructure of TCS has not been fully operational till date and officials from development commissioner’s office said that stringent work visa rules in the United States and hike in wages there were reasons behind the muted growth.

   According to industry officials, the construction work at TCS is going on and IT solution providers were working with skeleton staff in administrative and development departments. The state government has allotted around 40 hectare land to TCS and the company has pledged to invest Rs 410 crore in phases in the region.

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source: Economic times.

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