To meet the requirement of rapid growth in future, CMC Limited, a Tata group enterprise which is into systems engineering and integration, is investing Rs 445 crore in an SEZ (special economic zone) facility in Hyderabad.“We are creating 13,000 seats for our SEZ operations, of which 1,500 will be used by CMC directly while the remaining will be leased out to TCS. While the first two phases of the SEZ campus are already operational, Phase-III will be ready by August 2013,” R Ramanan, managing director and chief executive of CMC, told Business Standard. CMC currently employs about 10,000, including contracting strength, both for its Indian and global operations. It has close to 2,500 employees in Hyderabad. Besides having facilities in Mumbai, New Delhi and Bangalore, the company recently started its 300-seater SEZ unit in Kolkata, where around 60 seats were occupied now. Ramping up the company’s SEZ operations on the back of the increasing international projects, CMC chief financial officer JK Gupta said, woul
d give them a tax advantage. “At the end of this year, we expect to be operating at 26-27 per cent of tax. It may take around three years to come back to a tax of below 20 per cent,” he added.
http://www.business-standard.com/india/news/cmc-ltd-to-invest-rs-445-cr-to-widen-presence-in-south-india/478780/