Financial Express Our eFE BUREAU Chennai

Oman-based Bahwan CyberTek (BCT) is planning to ramp up its Indian Operations by hiring 300 more employees to man its ‘Centre of excellence’ in Chennai. The company will complete this ramp-up by 2005-06.

Addressing a press conference on Thursday, BCT director and CEO, S.Durga Prasad, said the company will increase its staff strength in the Chennai Centre from 200 employees to 500 employees by 2005-06. The company will also invest an additional $5 million towards enhancing its presence in India. BCT has already invested over $5 million in its Chennai Centre will engage in product development on its own”, he added.
BCT, part of the $1-billion Suhail Bahwan group in Oman, is a leading provider of technology solutions for banking, financial services and insurance (BFSI) sectors in the Middle East. The Company expects to breach the Rs45 core turnover mark by the end of this fiscal and hopes to touch the Rs.100 crore topline mark by 2005-06, he added.

BCT launched three products in the Indian market on Thursday – Cuecent Cash Switch, an inward-outward remittance solution, Cuecent FINFLEX, a financial portfolio management system. The company is planning to sell these products through strategic alliances. “We have already tied up with three companies to sell our products in India,” he said.

BCT also has plans to enter the ITES space and may set up a BPO Centre in Chennai.