Satyam proposes key business & educational agreements with Saudi Arabia

Satyam Computer Services Ltd has announced that the Company, hosted Honorable Dr. Khalid Bin Mohammed Al Angari, Saudi Arabia's Minister of Higher Education, during his tour of India this week. This visit reflects the increasing significance of the Company's relationship with Saudi Arabia, a high net worth nation in the Middle Eastern IT services market. Dr. Al Angari was accompanied by His Excellency, Dr. Abdullah Bin Ibrahim Al-Moajil, deputy minister for higher education, Saudi Arabia.

Dr. Al-Angari, with a party of 16 other Saudi university and business representatives, was in India to sign contracts with India's Ministry of Human Resources Development and India, Inc. The visit has provided the Company and the delegation, the opportunity to collaborate and determine the best ways to leverage bi-lateral skills and knowledge.

The Company has proposed a student exchange program for key Universities in Saudi Arabia to train Saudi University graduates at their facilities in India. The program aims at transforming fresh graduates into 'industry ready' software engineers, who can function effectively as team members in IT service projects.

His Excellency, Dr. Abdullah Bin Ibrahim Al-Moajil, deputy minister for higher education said, "Satyam is a great Company. The value addition that Satyam provides to any organization is worth noting. More cooperation between Satyam and the universities of Saudi Arabia will help in augmenting quality IT manpower in Saudi Arabia."

In addition, the Company will expand its Middle Eastern operations from Dubai to Al Khobar, where it plans to set up a development center. This will not only strengthen the Company's IT infrastructure, but also increase its focus on Saudi Arabia, which today accounts for nearly 40 percent of the Middle Eastern IT services market. The Company will also be better positioned to serve its current Saudi customers, including Al Rajhi Bank, Dabbagh, and Riyadh Bank.

"The proposed student exchange program underscores the potential we see in Saudi Arabia's young engineering talent and the software development market in the country. It also demonstrates our deep commitment to Saudi Arabia which is an important center for Satyam in the Asia-Pacific region," said Virender Aggarwal, senior vice president & director, of the Company Asia Pacific & MEIA. He further added, "We look forward to expanding our capabilities and presence in Saudi Arabia through more such alliances, as that nation solidifies its position as a business leader in the Middle East and beyond."

On arrival at the Satyam Technology center in Hyderabad, the delegation received a traditional Indian welcome. Later, several the Company executives met up with His Excellency and shared an overview about the organization and its Commitment to Saudi Arabia.

Source : Equity Bulls

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