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Our Bureau

Hyderabad , Oct. 13

THE engineering, construction and contracts (ECC) division of L&T has bagged the contract to develop a built-to-suit mega project for the HSBC group's data processing centre in Hyderabad.

This would be modelled on a similar project developed for the banking and financial services major in Visakhapatnam.

The President of ECC, L&T, Mr A. Ramakrishna, said that the project, to be developed near the Cyber Pearl in Hitec City, will have two buildings with total built up space of about 8 lakh sq. ft. With a total investment of about Rs 200 crore, the project is expected to be ready within 12 months.

Speaking on the sidelines of the meeting hosted to announce the launch of Cyber Pearl, Mr Ramakrishna said the country needs to open up further and invite more foreign participation to spur greater economic activity.

Earlier, the President and Chief Executive Officer of Ascendas, Ms Chong Saik Ching, said: "In just a couple of months since its completion, Cyber Pearl is already 80 per cent occupied".

HSBC, Market Tools, Nipuna and Keane are among the companies that have taken up space in the 2.7 lakh sq. ft. facility.

"We are in the process of taking up work in the phase II and expect to complete by early next year. L&T and Ascendas are scouting for other infrastructure projects in Andhra Pradesh and other parts of the country.

Bringing in diverse experiences, we would be able to provide world-class infrastructure in areas such as airports, roads, buildings and even townships," Ms Ching said.

The Singapore's Minister in the Prime Minister's Office, Mr Lim Boon Heng, said: "while a significant pre-requisite for fostering growth in IT and related sectors is the development of supporting infrastructure, the provision of a conducive environment for the working community is integral to sustained development. We see potential for greater cooperation in several other sectors as well."

More Stories on : Announcements | Real Estate & Construction | Andhra Pradesh

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L&T bags HSBC contract

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