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Memorandum of understanding on construction of IT Park in Indjija signed
Belgrade,
25 September 2007
Serbian Minister of Economy and Regional Development Mladjan Dinkic, owner of the Indian company Embassy Group Jitu Virwani and president of the municipality of Indjija Goran Jesic signed today a memorandum of understanding on the construction of an IT Park in Indjija.
Jitu Virwani, Mladjan Dinkic and Goran Jesic
Dinkic told a press conference that in the first phase a sum of $60 million will be invested in the park and 2,500 people will be employed. He said that IBM and Hewlett Packard have already shown interest in moving to the park.
The Minister added that according to a realistic estimate exports from the park will stand at some $2 billion annually. He explained that this estimate is founded on data and experience of the Embassy Group, which has similar parks in Bangalore, India, and in Malaysia.
Dinkic stressed that the IT Park in Indjija will be the largest of its kind in Europe, and added that within five years it is expected that a further $ 600 million will be invested in this project and the personnel will consist of 25,000 highly educated people.
During the first phase, an IT Park spread over 50 hectares will be built, with a commercial building covering an area of 25,000 square meters, and when the park is finished it will be on an area of 270 hectares, with commercial buildings on 250,000 square meters of space.
In that manner the largest Greenfield investment in Serbia will be realised. The project will be carried out by the Serbian Investment and Export Promotion Agency (SIEPA).
A statement by the agency recalls that last year the fourth regional centre of Microsoft outside the US was opened in Serbia. Other such centers are in China, India and the UK. This new project confirms the potential of Serbia in the IT sector.
The IT Park in Indjija will be the largest specialised IT Park in Europe and it is planned that it will house the most prestigious IT companies from all over the world. Due to the fact that the project is immense it is expected that it will eliminate unemployment among the highly educated segment in the area of technology and science in Serbia, says SIEPA.
Similarly, depending on the success of the project in Indjija, it is planned that such parks will be opened also in other regions of Serbia, with the aim to use available work force and infrastructure in other parts of the country.
The arrival of leading international companies in the area of information technology in Serbia will allow transfer of new technologies and domestic experts will have the opportunity to develop their knowledge and expertise working on modern equipment.
Besides domestic talent and experts from the region, it is expected that a large number of professionals from Serbia who left the country and whose profiles will be sought in the IT Park will return.
The Embassy Group was founded in Bangalore in 1985 and is one of the leading Indian companies in the sector of IT development and business parks.
Thus far the company has constructed 1.89 million square meters of commercial and residential space throughout India, and is currently building a similar park in Malaysia, on an area of 280,000 square meters.
Clients of Embassy Group in the IT sector include IBM, Microsoft, HP, ANZ Information Technology, Goldman Sachs, Fidelity, Network Appliances, Covansys, LG Soft and others.
One of the best examples of the company’s long term partnerships with eminent multinational companies is its partnership with IBM, which is present since 2003 in three parks made by Embassy Group, with plans for further expansion during the next two years.
Embassy Group rents the largest business space to IBM.
The Minister added that according to a realistic estimate exports from the park will stand at some $2 billion annually. He explained that this estimate is founded on data and experience of the Embassy Group, which has similar parks in Bangalore, India, and in Malaysia.
Dinkic stressed that the IT Park in Indjija will be the largest of its kind in Europe, and added that within five years it is expected that a further $ 600 million will be invested in this project and the personnel will consist of 25,000 highly educated people.
During the first phase, an IT Park spread over 50 hectares will be built, with a commercial building covering an area of 25,000 square meters, and when the park is finished it will be on an area of 270 hectares, with commercial buildings on 250,000 square meters of space.
In that manner the largest Greenfield investment in Serbia will be realised. The project will be carried out by the Serbian Investment and Export Promotion Agency (SIEPA).
A statement by the agency recalls that last year the fourth regional centre of Microsoft outside the US was opened in Serbia. Other such centers are in China, India and the UK. This new project confirms the potential of Serbia in the IT sector.
The IT Park in Indjija will be the largest specialised IT Park in Europe and it is planned that it will house the most prestigious IT companies from all over the world. Due to the fact that the project is immense it is expected that it will eliminate unemployment among the highly educated segment in the area of technology and science in Serbia, says SIEPA.
Similarly, depending on the success of the project in Indjija, it is planned that such parks will be opened also in other regions of Serbia, with the aim to use available work force and infrastructure in other parts of the country.
The arrival of leading international companies in the area of information technology in Serbia will allow transfer of new technologies and domestic experts will have the opportunity to develop their knowledge and expertise working on modern equipment.
Besides domestic talent and experts from the region, it is expected that a large number of professionals from Serbia who left the country and whose profiles will be sought in the IT Park will return.
The Embassy Group was founded in Bangalore in 1985 and is one of the leading Indian companies in the sector of IT development and business parks.
Thus far the company has constructed 1.89 million square meters of commercial and residential space throughout India, and is currently building a similar park in Malaysia, on an area of 280,000 square meters.
Clients of Embassy Group in the IT sector include IBM, Microsoft, HP, ANZ Information Technology, Goldman Sachs, Fidelity, Network Appliances, Covansys, LG Soft and others.
One of the best examples of the company’s long term partnerships with eminent multinational companies is its partnership with IBM, which is present since 2003 in three parks made by Embassy Group, with plans for further expansion during the next two years.
Embassy Group rents the largest business space to IBM.
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