US-based semiconductors and wireless technology giantQualcommis setting up a mega facility spread over nearly 1.6 million sq ft at a SEZ in Hyderabad. This will be the largest SEZ leasing deal inTelangana. It will also be Qualcomms largest facility in India.
The Qualcomm facility, to be housed over 17 storeys at the Sustain Properties Pvt Ltd SEZ being developed by K Raheja Group at Raidurg, will entail an of Rs 3,904 crore and will create about 8,700 jobs over the next five years, the Visakhapatnam Special Economic Zone (VSEZ) said.
The mega SEZ facility is expected to generate IT Services exports to the tune of Rs 28,658 crore over the next five years, it said.
The project has also received approval from the unit approval committee of VSEZ at a meeting held recently. All SEZs in Telangana fall under VSEZ.