VISAKHAPATNAM: In a major boost to Andhra Pradesh’s IT ecosystem, Cognizant Technology Solutions is all set to establish a world-class IT/ITES campus in Visakhapatnam with an investment of Rs 1,582.98 crore. The project is expected to create 8,000 jobs over the next few years.
The State Investment Promotion Board (SIPB) meeting chaired by Chief Minister N Chandrababu Naidu on Thursday, cleared the proposal of Cognizant, which has sought 21.31 acres of land at Kapuluppada under VMRDA. The State government will allot the land to Cognizant at a nominal price of just 99 paise per acre.
This project is seen as another big win for Vizag as an emerging hub for IT investments, and for IT Minister Nara Lokesh, who has been striving to get big investments for the development of IT sector. Cognizant has set March 2029 as the deadline for the commencement of commercial operations.