ICICI Bank has begun work on a 44-storey building in the Financial District on the outskirts of Hyderabad at Rs 1,000 crore.
The State Government has earmarked over 100 acres for the Financial District that would house banking, insurance, financial and allied companies.
The project, which is being taken on an eight-acre site, once completed would employ 25,000 people, according to Mr B.P. Acharya, Vice-Chairman and Managing Director of Andhra Pradesh Industrial Infrastructure Corporation (APIIC).The company, which had performed 'bhoomi pooja' last month on the site, is expected to house important tasks such as back-end operations and disaster recovery facilities.
The Financial District has started attracting global corporate giants such as UBS and Franklin Templeton. "The Financial District would emerge as the Wall Street of India," Mr Acharya said.
The State Government has earmarked over 100 acres for the Financial District that would house banking, insurance, financial and allied companies.
Source: The Hindu
