Cognizant To Invest Rs 1,582 Crore For New Visakhapatnam Campus, Gets Land For 99 Paise
The development comes at a time the Andhra Pradesh government is making active efforts to establish an IT/Tech hub in the state.
Technology major Cognizant will be investing Rs 1,582 crore to establish a new campus in Visakhapatnam. The Andhra Pradesh government will be giving 21.31 acres at a nominal rate of 99 paise.
The project is expected to create 8,000 jobs over the next few years. Cognizant has sought 21.31 acres of land at Kapuluppada under the Visakhapatnam Metropolitan Region Development Authority and the state government will be allotting the land, according to a press release issued on Friday.
The company has set a target of March 2029 for the commencement of commercial operations. The entire project will be self-funded by Cognizant in a bid to expand in Visakhapatnam.
The development comes at a time the Andhra Pradesh government is making active efforts to establish an IT/Tech hub in the state. Recently, the government had allotted 21 acres land for a symbolic value of 99 paise to Tata Consultancy Services in Visakhapatnam. TCS will be setting up an IT facility in Visakhapatnam with a capacity of 10,000 employees and the company would create job opportunities.
“Under AP's IT & GCC Policy 4.0, we are committed to developing an ecosystem for IT industry in the state," Lokesh Nara, the state minister for IT, electronics and HRD, said on X. "We are delighted to welcome Cognizant Technology Solutions, a titan of the Indian IT industry, to set up a 21.3 acre campus in Visakhapatnam with an investment of Rs. 1583 crores. This investment will generate 8000 direct jobs."
