Saturday, July 26, 2014

Infosys opening an unit in Info Valley SEZ Falta West Bengal

"The king of IT/Software industry Infosys (Infy) is going to set up a new unit at the Special Economic Zone (SEZ) in Falta West Bengal, within Info-valley complex planned in about 500 acres of land and minimum of 1000 human resources"

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The IT behemoth, which is the anchor tenant for the Info-valley project, is authorized to have software development and consultancy/ information technology/ information technology enabled services (ITes) operations. The company has been allotted 20,961.94 square meters (50.919 acres) of land in the SEZ spread over 262.52 acres.

While giving its approval, Falta SEZ has set some conditions. The terms, among others, stipulates that the Infosys unit will export the goods manufactured/goods imported/procured for trading services, including items of trading, as per the provisions of the Special Economic Zones Act, 2005 and rules made there under for a period of five years from the date of commencement of production or service activities. For this, the company will execute a bond cum legal undertaking as prescribed under the Special Zone Rules, 2006.

The approval follows the letter of the state-run Odisha Industrial Infrastructure Development Corporation (Idco) to Falta SEZ requesting to issue the letter of permission (LoP) to Infosys to start operations at its Info-valley campus, the second development centre of the IT major in the city.

Idco said, the Bangalore-based company was allowed to act as a co-developer of the SEZ by the Union Commerce Ministry. After executing the lease deed for the land on August 29, 2013, Infosys had sought a consent letter from Idco to obtain LoP from the development commissioner, FALTA SEZ. Acting on the request, Idco had conveyed its consent to Infosys for operationalizaton of its unit in accordance with the Clause 18 sub-clause 2(ii) of SEZ rule, 2006, of Government of India.

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