The California-based semiconductors and software services provider Qualcomm will soon open its second largest office in Hyderabad and will make investments worth Rs 3,904.55 crore in it over the next 5 years.
Additionally, two other US companies will be investing in Telangana, besides Qualcomm, bringing in more investments in the state.
All these developments have come forth as the Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology is on his visit to the United States.
Qualcomm Office to Complete By October 2022
The semiconductor chip manufacturer Qualcomm has announced to build an office campus over 15.72 lakh sqft space in Hyderabad, which will be its second largest.
The facility will be completed by the end of October this year, stated the company and it will make further investments of almost Rs 4,000 crore in the next 5 years.
The company made the announcement after Rama Rao met its CFO Akash Palkiwala, Director Dev Singh and Vice Presidents James Jean, Lakshmi Rayapudi and Parag Agase.
Moreover, Qualcomm will also hire about 8700 employees in the facility and it is the availability of talented manpower and good and industry friendly policies of Telangana State that has made the company choose Hyderabad as a desired location in India to establish its office.
This will add to the booming list of multinational companies building their large office campuses in the state and more particularly, in Hyderabad.
Two Other US Companies to Invest in Telangana
Besides Qualcomm, the US-based golf equipment company Callaway Golf and the electric vehicles firm Fisker Inc have also made announcements to set their office campuses in Hyderabad.
Together, they will provide employment to about 600 individuals.
The state IT minister Rama Rao has already met with the VP and CFO of Callaway Golf Executive Brain Lynch and the Chief Information Officer Sai Koorapati.
He also met Fisker Inc’s CEO Henrik Fisker and CFO Geeta Fisker.
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