Cognizant to invest Rs 1,583 Cr in Visakhapatnam IT campus, create 8,000 jobs
Cognizant is set to invest Rs 1,583 crore to establish a world-class IT and ITES campus in Visakhapatnam. The project is expected to create 8,000 jobs, with operations targeted to begin by March 2029.
IT company Cognizant is set to establish a world-class IT and ITES campus in Visakhapatnam at an investment of Rs 1,583 crore to generate 8,000 jobs in the next few years, ruling TDP party said.
The state government will allot land to Cognizant at the nominal rate of Rs 99 paisa, said the press release.
"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," said the press release.
Incidentally, Cognizant sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA) for the new IT campus.
The company has set a target of March 2029 for the commencement of operations, the press release added.