TCS to invest in Latin America

By agencies   |   Monday, 19 September 2005, 07:00 Hrs
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MUMBAI:IndiaÂ’s biggest IT services company, Tata Consultancy Services (TCS) will set up a new global development center in Brazil to facilitate a $260 million outsourcing order from ABN AMRO.

Though further details were not available about the size of investment, company officials said that it was investing more in the Latin American region now. ''TCS is investing heavily in local operations in South America. We have got a $260 million outsourcing contract from ABN Amro and majority of this comes from Latin America. This is to enhance our infrastructure in the region,'' said TCS Brazil President Sergio Rodrigues.

Holland based banking major, ABN AMRO had earlier this month given a $2.2 billion contract to IT companies like IBM, Accenture, TCS, Infosys and Patni.

The total contract awarded to Indian companies was $400 million, which is by far biggest contract ever awarded to any Indian company. The Mumbai based TCS was selected to provide application support and enhancement services for its Latin American and European operations.

TCS will hire over 1000 people over the next year for its operations in Brazil and Uruguay.

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