Following is an excerpt from a report in Economic Times.
IT consulting firm MindTree Consulting Ltd would the start construction of its proposed development centre here from April, official sources said.
MindTree Consulting is one of the four major firms which had proposed investment in Orissa’s IT sector, the others being Genpact Limited, ICICI Eastern Regional Hub and Wipro Limited.
According to Orissa’s Information Technology Minister S N Patro, MindTree Consulting Limited had proposed to invest nearly Rs 200 crore in its project here.
"While Wipro will invest Rs 100 crore in its project, ICICI Eastern Regional Hub proposes to spend Rs 500 crore here," the Minister said, adding that Genpact had proposed to invest Rs 200 crore.
Following is an excerpt from a report in the Business Standard.
ICICI Group’s eastern regional hub for back office operations, coming up at Chandaka industrial estate in Bhubaneswar, will be commissioned in 2009. This is one of the four regional hubs planned by the group.
“We expect the first phase to be commissioned in the next 18 to 24 months, and, hopefully, the hub will be commissioned by the summer of 2009,” K V Kamath, managing director and chief executive officer, ICICI Bank, said.
Talking to newsmen after the bhoomi pooja (ground breaking ceremony) for the proposed hub, Kamath said the second phase is scheduled to be commissioned a year later if every thing goes right.
He said the hub will have a built-up area of 1.25-1.5 million square feet in the first phase, and will accommodate about 15,000 people.
The group had earlier signed an MoU with Utkal University and KITT for offering skill-enabling and vocational courses in the domain of banking, finance and insurance.
Kamath said about 10,000-12,500 people will be employed in the Bhubaneswar hub in phases.
Slowly more news about this is coming out. [Financial Express, Kalinga Times, Tathya.in 1,2,3 ]. Following are some salient points culled from various news articles. (More will be added as more news report come in.)
- Financial Express: The hub, which will come up on a built-up area of 1.5 million sqft n the Chandaka Industrial Estate of the city, will act as a centre or convergence of the bank’s activities, like call centre, ack-office operations for banking & insurance as well as sales and administration.
- Financial Express: The proposed hub would accommodate approximately 10,000 people in a phased manner and have the capacity to scale up the operations in future to a potential of 15,000 manpower.
- Fiancial Express: “ICICI Bank selected Bhubaneswar for its eastern regioanal hub after choosing Hyderabad and Ahmedabad for the southern and western hubs, respectively, because of the initiative taken by the Orissa government,” said Kamath. He said the first phase of the hub would be fully operational in two years and the second phase will be completed in the next three years.
- Kalinga Times: In order to ensure availability of skilled local manpower, the bank has already started working in a partnership model with two universities in Orissa. In this regard, a separate MoU was signed between the bank and Utkal niversity on the occasion for offering various skill enabling and vocational courses in the domains of banking, finance and insurance. … Later in the day, the bank signed another MoU with KIIT University for running of an e-Learning Centre like the one to be run by Utkal University.
- Tathya.in: Naveen also asked Kamath to facilitate the Institute of Entrepreneurship Development (IED) into a national level Centre of Excellence.ICICI has played a crucial role in developing EDI at Ahemadabad to a national level institute.Kamath promised to look into the matter, said sources.
Tathya reports that ICICI Bank will sign an MOU with Orissa government to set up a call center and back office operation for banking and insurance. This center to be located in Infocity will eventually hire 15,000 graduates from normal colleges. In terms of the number of people they will hire, this is a big deal; much bigger than the overhyped POSCO or Mittal deals. ICICI Bank will not use our mines; will not pollute our atmosphere; will not displace people; and will only need 12 acres and yet will hire 15,000 people. Orissa should be going after more such companies and less of the metal and mining kind.
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