News: Google inks pact with AP Govt to buy land

(BL 12/05/2007) Hyderabad - The Silicon Valley, US headquartered, Google on Friday marked its continued investment in India by announcing a memorandum of understanding (MoU) with the Government of Andhra Pradesh to buy land in Hyderabad.

The land will be used to build a Google facility to support the growing business and team expansion across operations. The MoU marks a step forward in further establishing our commitment to India," said Roy Gilbert, Director, Online Sales and Operations, Google India.

"We are delighted that Google has decided to invest in Andhra Pradesh. Such investments help in accelerating the country's economic growth besides providing gainful employment," said Dr Y.S. Rajashekara Reddy, Chief Minister of Andhra Pradesh, according to a Google press release.

The MoU was signed in Santa Clara, where the Chief Minister was present, as part of his tour to the US. The State Government would allot about 20 acres of land owned by the Hyderabad Urban Development Authority (HUDA) in Kokapet village in neighbouring Ranga Reddy District to Google.

Google plans to expand in Andhra Pradesh by ramping-up its employee strength to over 4,000 and constructing a fully-owned techno complex. It has also projected further increase in its headcount based on its business needs, a Government press release said here.

In Hyderabad, Google at present has the second largest operations in India, with about 1,088 employees operating out of a leased facility. It houses engineering, online sales and service, information systems, human resources and other support functions.

The company has a presence in Bangalore, Mumbai and New Delhi as well. At the end of 2006, its global revenues stood at $10,604.92 million, with a market cap of $150 billion.