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Mystery surrounds Satyam grant by Victoria Govt | The Government of Victoria's decision to give a grant to Indian software giant Satyam Computers, now Mahindra Satyam, despite failing a federal government litmus test for funding is shrouded in mystery. The grant by Victoria controversially enabled the original
firm to embark on the 75 million dollar Geelong IT project. Mahindra Satyam canceled
the project, which was to have created 2000 jobs and contributed 175 million dollars
in economic activity for Victoria, last week. Federal Innovation Minister Kim
Carr last year unveiled the 24 million dollar Geelong Investment and Innovation
Fund (GIIF) established after Ford Australia decided to restructure its manufacturing
operations in the region. The fund was made up of 15 million dollars in Commonwealth
funding, six million dollars from the Victorian government and the remainder from
Ford. According to a spokeswoman for Senator Carr, department officials had initial
conversations with Satyam on whether the company would be eligible for the scheme
and Satyam was told that it did not meet the criteria for the GIIF. In Freedom
of Information documents obtained by the Victorian state opposition, Treasurer
and ICT minister John Lenders approved an undisclosed amount of cash advance to
Satyam as part of its "investment attraction package". A spokesman for state opposition
treasury spokesman Kim Wells said the discrepancy was "mysterious". "The state
government is saying one thing and the federal another," Wells said. A spokesman
for Lenders could not explain why Satyam was given Victorian taxpayer dollars
despite the GIIF saga. |
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