Redhawk plans $1bn IT township

US based Redhawk Investments, formed by a group of high networth individuals, is planning to build a integrated township spread across 500 acres. The company is scouting Bangalore, Hyderabad and the Greater Noida region for land.

The company is planning an upfront capital investment of $350 million through a mix of debt and equity. Redhawk estimates that eventually over a 10-year timeframe the cumulative investment will be $1 billion. According to company officials, they intend to kick off work within a three-year timeframe.

The township, when set up aims to house IT and BPO departments of the global financial services firms such as Well Fargo and Wachovia.