Infosys Technologies plans to invest 12.5 billion rupees ($280 million) in Hyderabad in three phases and raise its headcount there by 25,000 people over 10 years, the company said.

Bangalore-based, Nasdaq-listed Infosys now employs more than 5,000 people in Hyderabad. It said it would invest 4.5 billion rupees in the first phase and 4 billion rupees in each of the next two phases.

Ahead of the announcement Infosys shares closed down 0.5 percent at 2,881.65 rupees in a firm Mumbai market.

(www.financialexpress.com)