VISAKHAPATNAM: Unit Approval Committee (UAC) meeting of the Visakhapatnam Special Economic Zone (VSEZ) has given its consent for setting up four IT/ITES units with an investment of Rs 125 crore in Telangana. Development Commissioner of VSEZ Rama Mohana Reddy, who chaired the UAC meeting at DLF Cybercity office in Hyderabad, in a statement on Wednesday said the four units were likely to earn Rs 1,123 crore net foreign exchange and provide jobs for 2,495 persons.
He said the prominent one being, UBS Business Solutions (India) Pvt Ltd, which will be set up at Gachibowli in Phoenix Infocity Pvt Ltd in Hyderabad. He said the company proposed to invest Rs 80.02 crore. The unit is likely to achieve export of IT services to the tune of Rs. 928 crore in five years. It will generate 800 direct jobs in five years, he said.Rama Mohana Reddy said the UAC approved the proposals keeping in view the projections of the company.