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ZDNet / Brumby / Story

Brumby calls for patience on Satyam

By Suzanne Tindal, ZDNet.com.au on August 4th, 2009

Topics

brumby, victoria, mahindra satyam, prathivadi, geelong

Victorian Premier John Brumby said yesterday that it was still too early to call the fate of Mahindra Satyam's planned $75 million facility in Geelong.

John Brumby
(Credit: Victorian Government)

The IT outsourcer had planned to build a technology and learning centre on Deakin University's campus which would provide training and career opportunities to up to 2000 graduates. However, after an accounting disaster rocked the Indian outsourcing giant to its foundations, the project was in question.

Mahindra Satyam has been talking to the Victorian Government and has requested some space to consider the investment.

"We would still hope that the company continues with this investment, we're still continuing to talk to the new chief executive, they've asked for some time to look at all of the arrangements that were proposed," Brumby said. "So we hope that we can still secure this investment, but I think at this stage it's a little early to say."

Newly-appointed Mahindra Satyam country manager Venki Prathivadi told ZDNet.com.au last week that the project was currently being worked through at board level. He didn't think a decision was far off. "Possibly some time in August/September," he said. "We're working out a business case."

Brumby told AAP yesterday that the government had already paid some money to Satyam as part of a contractual agreement related to milestones for site preparation at Geelong's Deakin University.

However, the government won't say how much has been spent. "This government along with previous governments has a long-standing policy not to disclose the amounts of investment assistance to companies as they are commercial in confidence," a spokesperson for the Victorian Government said.

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