Infosys at Mihan SEZ Nagpur likely to start operations in 3 years

Infosys at Mihan SEZ Nagpur likely to start operations in 3 years | Infosys in Nagpur  | Infosysat SEZ | Infosys at Nagpur

 After being pursued by the state government for the last six months, IT giant Infosys signed a memorandum of understanding (MoU) with the Maharashtra Airport Development Company (MADC) for setting up a unit in the Mihan-SEZ.

However, the move is still short of clinching the final deal with this state government company which will ultimately lead to allotment of land to Infosys in the SEZ.

The documents were signed in Nagpur by chief minister Prithviraj Chavan who is chairman of MADC. Some senior bureaucrats and politicians were present.

Technically, an MoU differs from an agreement as the former is generally an expression of willingness by the two parties to enter into a pact if certain conditions are met by both.

State governments often sign MoUs with prospective investors from the industry some of which materialize. In this case, other formalities are being done. MADC has called it the biggest investment proposal so far.

Infosys proposes to take up 142 acres of land in the SEZ, where it plans to come up with its 12th campus in the country. CEO and managing director SD Shibulal told the media that the company plans to invest Rs 150 crore and that 2,000-3,000 jobs would be created in the initial phase. The operations are likely to start within three years, added Shibulal.