Infosys to set up SEZ in Indore with Rs 400 cr investment

IT major Infosys today laid the foundation stone of its proposed SEZ which will be created with an initial investment of Rs 400 crore.

The foundation-laying ceremony of the SEZ, to be constructed on 130 acres of land, was held at the Super Corridor on the outskirts of city in the presence of Madhya Pradesh Chief Minister Shivraj Singh Chouhan.

"In the initial phase, we will invest Rs 400 crore in the Indore facility and would create employment opportunities for 5,000 software professionals," Infosys founder and Executive Chairman N R Narayana Murthy said on the occasion.

Poverty can be eradicated from the country only when people get jobs that offer good salary, he said.

On the occasion, Murthy assured the Chief Minister that his company would create a most modern campus in Indore. Chouhan also assured that his government would give all necessary permissions to the company in a minimum possible time and extend all possible help.

The state government has allotted 130 acre land to Infosys on the Super Corridor at concessional rates.

A company release said that it would carry out construction in the 7 lakh sq ft area and the first phase will be completed in next 24 months.

Tata Consultancy Services (TCS) is also setting up its Software Development Centre at Super Corridor on 100 acre land, which was also allotted to it by the state government on a concessional rates. The company would invest Rs 500 crore in the Indore facility, official sources said.