Rolta India acquires 5 Acres of Land for setting-up IT Park in Kolkata

Rolta India Ltd has announced that it has formally taken possession of 5 acres of land in Nonadanga in east Kolkata, allotted by the West Bengal Government, after having complied with all requisite formalities. Mr. K K Singh Chairman and Managing Director of Rolta Group of Companies and Hon'ble Chief Minister Mr. Buddhadeb Bhattacharjee signed and exchanged the required documents on September 14, 2007.

With an investment of over Rs 2500 million, Rolta will now embark on setting up the proposed IT park at Kolkata in a phased manner. This IT park will have extensive facilities for delivery of information technology based GeoSpatial services, Engineering Design Services, Software Development and ERP Implementation Services worldwide. Once completed this facility will provide employment opportunity for about 5000 technical professionals and Domain experts from talents available in West Bengal.

Mr. Kamal K Singh, Chairman and Managing Director of Rolta group stated that, "This facility being set up in Kolkata is part of Rolta's expansion Plan to grow manifold in the coming years, requiring additional infrastructure and talent pool. This new facility being setup for the first time outside Mumbai will help us in meeting the growing demand for our services worldwide. We are grateful to the Government of West Bengal to have put their faith in us and giving us this opportunity for investing in an IT Park in Kolkata. We appreciate the initiates taken by Mr. Buddhadeb Bhattacharjee - Hon'ble Chief Minister and Dr. Debesh Das - Hon'ble IT Minister in promoting Kolkata as an investment destination for the Information Technology Industry and by providing necessary impetus for its growth".

The stock closed the day at Rs.445.65, down by Rs.22.65 or 4.84%. The stock hit an intraday high of Rs.480 and low of Rs.443.05. The total traded quantity was 556672 compared to 2 week average of 320384.

Source : Equity Bulls

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