Infosys Says to Invest $65 Mln, Hire 6,000 in China
Thu Aug 4, 2005
BANGALORE (Reuters) - Infosys Technologies Ltd. (INFY.BO: Quote, Profile, Research), India's second-biggest software service exporter, said on Thursday it planned to invest $65 million over five years in two Chinese technology centers.
The investment includes $10 million over two years in a Shanghai center that Infosys announced to the stock exchange on Wednesday. The other center in Hangzhou will involve an investment of $15 million over the next two years, Infosys said.
The new centers will accommodate 6,000 engineers, Nasdaq-listed Infosys (INFY.O: Quote, Profile, Research) said in a statement. Both projects are expected to start in January 2006, it said.
Infosys, which is expanding in China like industry leader Tata Consultancy Services (TCS.BO: Quote, Profile, Research) to help global customers and hire low-cost staff, currently has 250 employees in China.
Indian companies are expanding in China mainly to help U.S. and European customers seek local clients and build a global footprint. Shares in Infosys were littled changed at 2,361 rupees by 0524 GMT, in a firm early Bombay market.
($1 = 43.45 Indian rupees)
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