The Hindu Business Line : Maharashtra Govt signs MoUs with Mahindra British Telecom, MICO

Mr Vilasrao Deshmukh, Chief Minister of Maharashtra, witnessing Mr Vineet Nayyar, CEO and MD, Mahindra-British Telecom, (left) and Mr V.K. Jairath, Secretary, Industries, exchanging documents after the signing of an MoU in Mumbai on Monday. — Paul Noronha

Mumbai , Nov. 21

THE Maharashtra Government has signed memoranda of understanding (MoU) with two corporate houses in the State, to bring in an investment of Rs 1,000 crore. On Monday, an MoU was signed with Mahindra British Telecom (MBT) for its Rs 450-crore new software development campus, which is coming up at Hinjawadi, near Pune.

The Motor Industries Co Ltd (MICO) also signed an MoU with the State Government for its Rs 550-crore expansion project at its Nashik facility.

Spread over 25 acres, the new MBT campus will have office space, housing facilities, training centres, food courts and sports complex.

Speaking on the occasion of signing of the MoU, Mr Vineet Nayyar, CEO and MD, MBT, said the company had chosen Rajeev Gandhi Infotech Park, Hinjawadi, for its new software campus.

The company would be investing about Rs 450 crore to create the facility in the next three years. It would be developed on the lines `walk to work' where workplace and staff quarters are at walking distance, he said.

"Our attempt is ultimately to house about 18,000 families on the campus. With every engineer earning Rs 5 to 6 lakh annual income, the local economy would benefit to the extent of Rs 1,000 crore,'' Mr Nayyar said.

He said by the end of the three-year investment period, MBT would have a total work force of 25,000.The company currently employs 8,500 people.

Interacting with the media, Mr Nayyar confirmed that the company would be considering the IPO option for its new ventures but did not indicate the date for the offer.

The Chief Minister, Mr Vilasrao Deshmukh, said the Government has taken the decision of reserving 30 per cent of the available land in the new Maharashtra Industrial Development Corporation areas for residential purpose so as to evolve a new independent township model especially for knowledge industries. It would reduce commuting considerably, Mr Deshmukh said.

MICO, the flagship company of the Bosch Group in India, signed the MoU for its common rail injectors project at its Nashik facility. The investment would be to the tune of Rs 550 crore and it would generate employment for 1,000 people.

Speaking on the occasion Mr V.K. Viswanathan, Joint Managing Director, MICO, said that the common rail project would contribute to making diesel cars cleaner, more economical and less noisy.

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