The Hindu : Andhra Pradesh News : Avineon to open centre in Kakinada

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Wednesday, Apr 02, 2008
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Andhra Pradesh

Andhra Pradesh

Avineon to open centre in Kakinada

Special Correspondent

HYDERABAD: Avineon, an engineering, geospatial and IT solutions provider, will expand its operations by opening a development centre in Kakinada with about 150 people. The company has 700 associates working in Hyderabad and 300 overseas, including the USA and Europe. In all, about 1,000 employees are on board of the company.

Addressing a press conference here on Tuesday, president and CEO of Avineon Karlu Rambhala said that the company had invested US $ 250,000 in the Kakinada facility to accommodate about 80 people and was also looking out to hire another premises.

It would invest US $ 5 million to have its own facility of at least 100,000 sq. ft in Hyderabad. The privately-held company was growing at 35-40 per cent year-on-year and was expecting to cross US $ 45 million this year. The geospatial business was contributing US $ 20 million, while US $ 15 million was coming from IT and US $ 10 million from engineering services, said Mr. Rambhala.

The company proposed to expand to Australia, New Zealand, Middle East, Far East apart from existing markets. It secured a large order of several million dollars spanning over a year-and-a-half to employ 300 people, hence the Kakinada expansion.

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