Infosys to set up software development centre in Kolkata

8 | Infosys | Market Cap for the week ended October 30: Rs 4,51,753.23 crore crore | Loss during the week: 26,152.79 crore.

Infosys has started work on its new software development center in Kolkata, the foundation stone for which was laid by West Bengal Chief Minister Mamata Banerjee, the company said on Monday.

The new centre, spread over 50 acres of land, will be set up in the Bengal Silicon Valley Hub in Kolkata.

Infosys will invest about Rs 100 crore in the first phase of construction of the centre. The company aims to build a 525,000 square-foot facility, in which it will initially create employment for 1,000 engineers.

The first phase of the project will be completed within 15 months from the date of obtaining all statutory clearances, Infosys said in a statement.

"I congratulate the Government of West Bengal on laying the foundation stone for the Bengal Silicon Valley Hub, here in Kolkata," Salil Parekh, Chief Executive Officer and Managing Director, Infosys, said in a statement.

"On this special occasion, I would like to thank the Honorable Chief Minister of West Bengal Mamata Banerjee, for giving Infosys a unique opportunity to be a part of this prestigious project, and further strengthen our presence across the country," he said.