All arrangements are in place for the formal inauguration of the spacious campus of Symbiosys Technologies promoted by local entrepreneur O. Naresh Kumar at Rushikonda IT SEZ, by Chief Minister K. Rosaiah on Wednesday.

Commissioner of Police N. Sambasiva Rao and District Collector J. Syamal Rao visited the campus on Monday to review the security arrangements.

The 700-seat software unit developed at a cost of Rs.20 crores in an area of two acres on hill No. 2 overlooking the sea has a built-up area of one lakh sft. It has parking space of 45,000 sft, one of the largest for any software company.

Mr. Naresh Kumar, who is the CEO of Symbiosys Technologies, told reporters that due to the visit of Chief Minister to the IT SEZ, the authorities concerned had given a facelift to the software park and the entire beach road. “Such a clean look will drive investors from other parts to set up new units in Visakhapatnam, which is emerging as a tier-II city for IT and ITES units,” he said.

He said their unit, which was into software development and testing from outside the zone, was expecting a turnover of Rs.15 to Rs.20 crores by year-end. It would double its turnover by March, 2011 raising its employees’ strength from 220 to 450. To a question, Mr. Naresh Kumar said recession had not hit the business of software units but their overseas clients had drastically cut down billing rates. Google is one of the main clients of Symbiosys.

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