Andhra Pradesh chief minister, N Chandrababu Naidu and Singapores minister of national development, Dr Vivian Balakrishnan, jointly laid the foundation stone for the mega project here on Thursday. A 50:50 joint venture company called L&T Infocity Ascendas Pvt Ltd has been floated to take up the project.
Bill Gates To Inaugurate Cyber Gateway
The chairman of Microsoft Bill Gates is being asked to inaugurate the second project of the L&T Infocity - Cyber Gateway, during his visit to Hyderabad next month. The AP chief minister N Chandrababu Naidu is expected to ask the chairman of the software major to officially inaugurate the 1.2 million sq ft Cyber Gateway, when Bill Gates visits the Cyber City during the second week of November.
When fully completed, Cyber Pearl is expected to house a workforce of 5,000 employees by the software design houses, call centres, and other IT enabled service (ITES) companies.
The new project will add further value and business sense to make Hyderabad the IT Capital of India in the years to come, Mr Naidu claimed. Hyderabad is witnessing an average of 90 per cent CAGR in the IT sector over the last six years.
Ascendas Pte Ltd president and chief executive officer Chong Siak Ching said,India is a market of great potential, particularly for the IT industries. This is an area where Ascendas can add value by offering high quality business space solutions.