Xenitis delegation meets Chief Minister
Hyderabad, June 29, 2006Xenitis Infotech Ltd., a Kolakata based technology company has announced its plans to invests Rs.1200 crores for establishing a chip manufacturing facility in the Fab City. A delegation of Xenitis met the Chief Minister, YS Rajasekhara Reddy with its plans for the proposed facility and they were assured all the necessary support from the State Government.
The Chief Financial Officer (CFO) Amber Mukherji said that the company had excellent long term relationships with Taiwanese and Chinese hardware manufacturers and the move to set up the manufacturing base for chips for mobile phones was a logical extension to it. The project would be taken up in three phases of Rs.400 crores each that would be funded through debt and equity. The company is looking at acquiring about 100 acres of land in the Fab City project for the proposed semiconductor manufacturing facility and would be finalized shortly, he said.
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