Mahindra Satyam, the new avatar of the scam-hit consulting and IT services firm Satyam Computer Services Ltd, today announced the commencement of construction work at its special economic zone (SEZ) - the Mahindra Satyam Infocity Campus at Hyderabad.
Construction on the SEZ, spread across 26 acres and with a proposed built-up area of 400,000 square feet, has already started. The first phase of the campus is expected to be ready for occupation within the next six months and will seat around 5,000 associates.
The SEZ inauguration coincides the completion of one year of the Satyam Computer's take-over by the Tech Mahindra subsidiary Venture Bay Pvt Ltd. Mahindra Satyam and Tech Mahindra campuses also celebrated 'a year of collaboration' of minds, hearts, competencies and vision.
Corporate affairs minister Salman Khurshid and Mahindra vice chairman Anand Mahindra addressed the associates at the Infocity campus, and shared their appreciation for their hard work and the vision for the future.
"The commencement of the Mahindra Satyam IT SEZ in Hyderabad is a significant milestone for the company. It showcases the resurgence of Mahindra Satyam through sheer grit, determination and hard work of its associates. We have been closely monitoring the company and are happy with the progress that it has made, governed by the impeccable values and ethics of the Mahindra Group," Salman Khurshid, minister of corporate affairs, said in his inaugural address.
"From this day, last year, we have come a long way in our efforts to re-establish our position in the Indian IT landscape. It makes us all proud that we are on course to achieve what we had set out to do and I believe that it has been possible only with the dedicated efforts of the associates and support from their families," Anand Mahindra, vice chairman and managing director of Mahindra & Mahindra, said.