Satyam pulls out of Oz university development project
11 Sep 2009, 1145 Hrs

Add comment          Mail          Print          Write to Editor

Melbourne, Sep 11 Mahindra Satyam has pulled out of a 75 million dollars software development project at Deakin University that was set to create 2000 jobs in Geelong, Victoria.

The company's president of corporate affairs, Sujit Baksi, informed the state government of its intention in a letter to IT minister John Lenders.

According to the Geelong Advertiser, Baksi wrote: "The need to concentrate on an extensive internal restructuring program of our business precludes Mahindra Satyam from embarking on expansion projects of this kind.

"While Mahindra Satyam is disappointed that it cannot proceed with the centre, it reaffirms its commitment to future expansion in Victoria when circumstances allow."

A Satyam Australia spokeswoman confirmed that the project had been cancelled, The Australian reports.

According to the report, Baksi committed to Mahindra Satyam paying back the undisclosed cash grant to the Brumby Government, which the company was given to lure it to Geelong.

In July the new owner of Satyam, Tech Mahindra, said it was committed to the project and was investigating its viability.

The future of the Geelong project, occupying 10ha at Deakin University, came into question after Satyam founder and chairman B. Ramalinga Raju admitted to a one billion dollars accounting scandal in January. (ANI)

Related Latest

Was Button forced out of Brawn GP to make way for Schumacher? 'Aggressive' development must to prevent return of terror in FATA: Zardari Nicole Richie checks out of hospital India, Nepal press ahead with Pancheswor project talks Is Dustin Hoffman out of 'Little Fockers'? New therapy offers hope for mental disorder patients Karanataka's urban development plan seeks balance Saina, Arvind bow out of China Super Series Six out of eight Indian carriers post losses: Patel Will root out corruption, Congress promises in Jharkhand manifesto

Related Latest

US to give crucial information on Headley-Rana accomplice's 26/11 role to India Restoration of Mughal road in J-K heads towards completion China wants a Chinese version of Tibetan Buddhism, says Dalai Lama Cultural heritage of Manipur showcased in Sikkim Green Park stadium's scoreboard, the only manually operated scoreboard in India Dalai Lama hopes PM will discuss Tibet issue with the U.S. leadership 3 injured in fire at Jodhpur's handloom showroom White House prepares for first state visit by Manmohan Singh Bamboo fencing on Nainital's hillside roads to prevent mishaps Indian Navy vessel on solo circumnavigation of world reaches New Zealand

• US to give crucial information on Headley-Rana accomplice's 26/11 role to India
• Restoration of Mughal road in J-K heads towards completion
• Cultural heritage of Manipur showcased in Sikkim
• Green Park stadium's scoreboard, the only manually operated scoreboard in India
• White House prepares for first state visit by Manmohan Singh

• भारतीय क्रिकेट की मजबूत दीवार
• कंगारूओं के आगे ढेर, चीतों से कैसे मुकाबला करेंगें शेर
• Reducing greenhouse gases may not be enough to slow global warming
• बीकानेर महापौर चुनावः एक विश्लेषण
• Deepawali: The Festival Of Lights