Satyam pulls out of $75 m IT project in Australia

Mahindra Satyam President (corporate affairs) Sujit Baksi formally conveyed this to the government of Victoria State through a letter addressed to provincial Information Technology (IT) Minister John Lenders, the Australian daily reported.

The planned project spread over 10 hectares of land in Deakin University in Geelong was expected to create 2,000 jobs. According to the daily Geelong Advertiser, Baksi wrote: “The need to concentrate on an extensive internal restructuring program of our business precludes Mahindra Satyam from embarking on expansion projects of this kind.” 

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