 "Cyient to set up tech development centre in Warangal")
Cyient Limited, a Hyderabad-based IT engineering services company, is establishing a technology development centre at the Madikonda special economic zone in Warangal.
Telangana chief minister K Chandrasekhara Rao will lay the foundation stone of the new facility on Friday.
Set on a five-acre campus, the planned facility will cover an area of 70,000 sq ft. Initially, it will commence operations in April 2016, at the incubation centre of Telangana State Industrial Infrastructure Corporation. The centre will employ approximately 1,000 professionals over the next 18 to 24 months.
In a filing to the BSE on Thursday, Cyient said that the facility would focus on advanced geographic information systems (GIS), remote sensing and photogrammetry
technologies, catering to a host of solutions for the transportation (navigation), utilities and communications sectors, besides supporting Cyient's worldwide digital technology initiatives, including those in IoT, big data analytics and smart cities, and cater to the company's global clients.
"In establishing the Cyient centre in Warangal, we recognise the role that Tier-II cities are playing in India's growth. There is a strong need to promote balanced economic
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growth in rural India by creating employment opportunities in Tier-II locations. The centre in Warangal will help accelerate socio-economic development of the region.This will be the fourth technology development centre in Tier-II cities for Cyient," said BVR Mohan Reddy, founder and executive chairman of Cyient.
The company’s stock closed at Rs 421.80, down 0.09%, on the BSE.