Csl Pumps Rs 440 Cr Into Software Centre

Catalytic Software Ltd (CSL), a subsidiary of Catalytic Software Inc. of the US will invest $100 million ( Rs 440 crore) in the next three years in setting up a software development centre and a township near Hyderabad. A memorandum of understanding (MoU) was signed here Tuesday between CSL and the government of Andhra Pradesh under which CSL would put up its proposed facility in the hardware, logistics, financial and IT services park being planned by the state government near Shamshabad, 25 km from the city. As per the MoU, CSL will purchase land from the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for the purpose. The state government will help CSL in early completion of the project by extending to it the concessions earmarked for the IT industry and by simplification of procedures. The APIIC will be the nodal agency to function as a single window for facilitating and assisting CSL in obtaining all necessary clearances and approvals for early and successful implementation of the project.

The MoU was signed on behalf of the state government by the IT secretary, J Satyanarayana and CSL's director and chief executive officer, Swain Porter.