New Delhi, May 13: This is the first effect of Chandrababu Naidu's ouster. Dutch technology conglomerate Vanenburg group has decided to exit its high-profile IT Park in Hyderabad . As per the sell-off plans, the prospective acquirer will get 50 acres of land for development. This is in addition to the park’s four phases which are under implementation. Though the reason for Vanenburg’s exit from India could not be ascertained immediately, though sources familiar with the development said the Dutch major plans to invest the proceeds from the sale in its software development business. The group is learnt to have been toying with the idea of exiting from the park venture for some time now.
Despite repeated attempts, Vanenburg IT Park head S Ramanathan could not be contacted for his comments on the issue. An e-mail sent to the company also remained unanswered. Besides the IT park venture, Vanenburg has a software development arm in India . The group’s main R&D centre, located in the Vanenburg IT Park itself, has over 400 engineers designing, developing, and supporting products in the beyond ERP space for several Vanenburg group companies.
The IT park project, which is to be completed in four phases, already has two phases (Mariner and Auriga) up and running. The third phase is expected to be completed soon and the fourth phase by ’06. When fully developed, the IT park will have about 1m sq ft office space. IT industry sources said the change in guard in Hyderabad is not expected to impact the plans of most IT companies in Hyderabad.
“Though the new dispensation is expected to give additional thrust to the manufacturing sector, it does not mean that it will not keep nurturing the IT industry,” an industry source said. Bureau Report