Infosys' campus is biggest investment
By Zhu Shenshen |
May 23, 2011, Monday
|
Print Edition
Print Edition
INDIA-BASED Infosys Technologies Ltd plans its biggest overseas investment in Shanghai by spending US$125 million to US$150 million on a new campus.
Over the next three years, Infosys China's revenue is expected to contribute 5 percent to its global income, up from 1 percent now. Infosys China generated a revenue of US$78 million in its last fiscal year ended in March.
"As the second largest economy in the world, China will lead the world in economic growth in the future and we see exciting times ahead," said Narayana Murthy, chief mentor and chairman of Infosys at the weekend. "We can't grow without the growing Chinese market."
The new Shanghai campus, covering 6.1 hectares, will be located in the city's Zizhu Science and Technology Park where Intel Corp and Microsoft Corp also have their research centers.
Although Infosys said labor costs in Beijing and Shanghai are 20 percent higher than India's, it is not too concerned because it wants to be close to its clients and provide real value to them, Rangarajan Vellamore, chief executive of Infosys China, said.
The firm will expand in the retail, banking and manufacturing sectors in China.
Infosys entered the domestic market in 2004 and now employs about 3,300 people. It plans to add about 10,000 employees with the new Shanghai campus and one planned in Dalian, Liaoning Province, according to Vellamore.
Founded in 1981, Infosys is the world's No. 2 information technology and outsourcing service provider.
Over the next three years, Infosys China's revenue is expected to contribute 5 percent to its global income, up from 1 percent now. Infosys China generated a revenue of US$78 million in its last fiscal year ended in March.
"As the second largest economy in the world, China will lead the world in economic growth in the future and we see exciting times ahead," said Narayana Murthy, chief mentor and chairman of Infosys at the weekend. "We can't grow without the growing Chinese market."
The new Shanghai campus, covering 6.1 hectares, will be located in the city's Zizhu Science and Technology Park where Intel Corp and Microsoft Corp also have their research centers.
Although Infosys said labor costs in Beijing and Shanghai are 20 percent higher than India's, it is not too concerned because it wants to be close to its clients and provide real value to them, Rangarajan Vellamore, chief executive of Infosys China, said.
The firm will expand in the retail, banking and manufacturing sectors in China.
Infosys entered the domestic market in 2004 and now employs about 3,300 people. It plans to add about 10,000 employees with the new Shanghai campus and one planned in Dalian, Liaoning Province, according to Vellamore.
Founded in 1981, Infosys is the world's No. 2 information technology and outsourcing service provider.
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