The project will see a veritable watershed of foreign investment in Shamshabad, with $3 billion to be brought in by the anchor company SemIndia in collaboration with the international chip major AMD, and more by other chip manufacturers. Just SemIndia is likely to create 5,000 jobs directly and thousands more indirectly through the influx of about 200 suppliers and ancillaries.
“We have decided to position Fab City in Hyderabad.” That announcement by SemIndia president and CEO Vinod K Agarwal rippled through a press conference like a streak of lightning at chief minister Y S Rajasekhara Reddy’s camp office on Thursday. Hours earlier, Union IT and communications minister Dayanidhi Maran had declared that Hyderabad—a brash pretender to Bangalore’s primacy as a destination for IT investmenthad won the race for the prestigious project. In a delicious irony, Maran’s announcement was made in Bangalore.
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