Hyderabad beat IT heavyweight Bangalore and bagged the Fab City project, which will host India’s first major silicon chip manufacturing facility.

The project will bring three billion dollars as investment by the anchor company SemIndia in partnership with Advanced Micro Devices (AMD). It is likely to create 5,000 jobs and thousands more indirectly through 200 suppliers and ancillary units.

SemIndia president and CEO Vinod K Agarwal’s statement; “We have decided to position Fab City in Hyderabad”, confirmed the big news at a press conference held at Andhra Pradesh CM’s office that was earlier broken by Dananidhi Maran, the Union IT and Communications Minister.

This announcement made Bangalore topple Hyderabad as the country’s destination of choice as far as information technology investments are concerned. Now Bangalore being bruised, it needs to pull up its socks and the Karnataka government shouldn’t take IT investments for granted resting on its erstwhile primacy.

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