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Mahindra Satyam looking for extension of time for setting up SEZ in Hyderabad

06 Jun 2011 Evaluate

Mahindra Satyam, leader in global business and information technology has sought additional time for setting up an IT/ITES SEZ at Hitec City in Madhapur, Hyderabad. The company has sought for some more time as it could not complete the construction due to the unforeseen situation, the company got into in January, 2009. The company has forwarded the latest request for extension to the board of approvals for SEZs under the ministry. 

The Union Ministry of Commerce had already given two extensions for the SEZ and the validity of the last extension is up to June 19, 2011.

In 2006 Mahindra Satyam was granted formal approval for setting up the SEZ over an area of 10.52 hectares. The company also informed the BOA that it is on the recovery path and is getting new customers and new business and hence, is in a position to complete the project.

Recently the company has entered into global strategic alliance with MasterCard and announced the establishment of a center of excellence for testing at Kuala Lumpur in Malaysia. The center will provide support for global testing for MasterCard business applications, as well as application development in Java and Business Intelligence.

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