Satyam terminates Australian IT campus project

Planned Centre of Excellence at Geelong, Victoria will not go ahead

Indian outsourcer Mahindra Satyam has pulled the plug on a planned 10ha, $A75 million technology centre that was to have been built in Geelong, Australia.

The project was tipped to create 2,000 jobs and was to have been based at Deakin University’s Geelong campus.

The project, announced last year, had been given funding from the Victorian state and Australian federal governments.

Satyam, which is now named Mahindra Satyam after fellow Indian form Tech Mahindra bought into it following the accounting scandal that bought Satyam to its knees last year, says it will pay back all government funds.

The centre was to have been one of several Satyam centres of excellence around the world and was to have included a software development centre and facilities for training, research and development.

Mahindra Satyam cites the impact of the global financial crisis as the reason for not going ahead with the project.

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