Cognizant News: Cognizant Technology Solutions will form an IT campus in Visakhapatnam in Andhra Pradesh. It will invest ₹ 1582 crore in this campus. The company has got land for this. Moneycontrol has received information from the sources as saying, according to which Andhra Pradesh has given land for just 99 paise to create an IT campus. According to sources, due to this IT campus, about 8 thousand jobs are expected to be prepared in eight years. Cognizant has targeted to start commercial operations here by March 2029.
Cognizant had asked for 21.31 acres of land
Sources told Moneycontrol that Cognizant had sought 21.31 acres of land in Kapulauppada under Visakhapatnam Metropolitan Region Development Authority (VMRDA). On this demand of the company, the state government will allot land at a nominal fee of just 99 paise.
The state government gave indications in January
Cognizant has targeted to start a commercial operation in the IT hub of Visakhapatnam by 2029. The IT company will invest ₹ 1582 crore in it. Investment of Cognizant in Visakhapatnam is coming at a time when it is moving rapidly on the way to develop as an IT hub. Andhra Pradesh Chief Minister Chandrababu Naidu has said many times that he wants to develop Visakhapatnam as the financial capital of Andhra Pradesh. However, in January itself, the state government had indicated about the investment of Cognizant. In January, Andhra Pradesh’s IT and HR Minister Nara Lokesh had indicated that Cognizant could start its work in the state. During the World Economic Forum (WEF), Lokesh, a minister in the Andhra Pradesh government, met CEO S. Ravi Kumar, CEO of Cognizant and encouraged him to invest in Tier-2 cities like Visakhapatnam.
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