Bhubaneswar, April 1: Tata Consultancy Services (TCS) will set up its second software development centre in the eastern region in Bhubaneswar.

TCS has signed an agreement to acquire 45 acres at Infocity in Bhubaneswar for its development centre, official sources said.

The agreement between TCS and Infrastructure Development Corporation of Orissa Ltd (Idco) was concluded on Tuesday, sources said.

The company paid Rs 5.40 crore towards the cost of the land, which was leased to it for an initial period of 76 years. TCS had signed a memorandum of understanding with the state?s department last November as a first step in this direction.

TCS has also applied to Idco for lease of 36,000 sq ft of floor area at Fortune Towers, a complex built for IT and other companies, to start its activities in software development in the city by August with a workforce of 250 software professionals, the sources said.