The Hindu : Andhra Pradesh / Hyderabad News : ICICI to build south India's back office in city

Online edition of India's National Newspaper
Wednesday, Apr 04, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

ICICI to build south India's back office in city

Special Correspondent

HYDERABAD: The ICICI Bank will take up a mega structure with 28 storeys in the eight acres allotted to it in the financial district at Nanakramguda in the city, according to Managing Director of the bank K. V. Kamath.

Mr. Kamath called on Chief Minister Y. S. Rajasekhara Reddy here on Tuesday and apprised him of the project. The structure would have 4.5 million square feet of floor space.

Noted architect Hafeez Contractor has designed the Rs. 1,500-crore project which will be completed by December 2008.

Apprising Chief Minister Y. S. Rajasekhara Reddy about the project here on Tuesday, Mr. Kamath said that the Rs. 1,500-crore project would be the most prestigious one for the bank.

This would be the centre for back office operations of the bank in southern region in the country, involving about 25,000 employees.

This would also provide an indirect employment to one lakh persons.

Dr. Reddy thanked Mr. Kamath for choosing the Hyderabad Financial District for locating the mega venture. Minister for Industries J. Geeta Reddy and senior officials also participated in the meeting.

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