India's fourth-largest software enterprise Satyam Computer Services Ltd. will set up a branch company in Nanjing, capital city of east China's Jiangsu Province.

From its new base in the Nanjing Software Park in the city's New and High Technology Industry Development Zone, the software outsourcing firm will recruit 2,500 software engineers and is expected to gain annual sales value of more than 10 billion yuan (1.3 billion U.S. dollars).

Qi Lu, an administrative official in the zone, told Xinhua on Sunday that the new Satyam branch will boost the competitiveness of local software firms and help attract more Indian and other international software giants to Nanjing.

The campus-style park will provide lodging and other amenities, and is set to attract more than 300 software companies, Qi added.

China is destined to become the world's No.2 outsourcing base, next only to India, and we are confident about the market there, said Murali V., Senior Vice President of Satyam Corporate Headquarters.

Nanjing Software Park, approved by the Ministry of Science and Technology as a "Torch Plan" software industrial base, has so far attracted 240 software companies with over 13,000 workers.

Prior to the Nanjing branch, Satyam had set up branches in Shanghai, Beijing, Shenzhen and Dalian.

Satyam generated worldwide sales revenue of more than 1.5 billion U.S. dollars from software and IT services in 2006.

Source: Xinhua