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Singapore Ascendas opens IT Complex in Hyderabad
By siliconindia
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Wednesday, 13 October 2004, 19:30 IST
SINGAPORE: Singapore's Ascendas Pte. Ltd. and its Indian partner L&T Infocity Ltd. Wednesday opened a multistory IT complex in the southern Indian city of Hyderabad that will provide 270,000-square-feet of business space.
The Singapore government-linked regional developer of science parks and logistics facilities said the complex, called Cyber Pearl, is its third in India following the International Tech Park Bangalore and Gurgaon Tech Park in Haryana.
A fourth project, the International Tech Park, Chennai, is being developed.
Ascendas didn't disclose its investment or give revenue and profit projections for its new complex, but said about 80% of the building has already been taken up due to India's booming IT industry.
L&T Infocity is an 89:11 joint venture between Indian engineering conglomerate Larsen & Toubro Ltd. (500510.BY) and the Andhra Pradesh state government.