8 hours ago
Cognizant to build IT campus in Vizag, generate 8,000 jobs
Visakhapatnam: In a significant development for 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.
Providing the much-needed relief to unemployed youth, the project is expected to generate 8,000 jobs over the next few years.
In connection with it, Cognizant sought 21.31 acres of land at Kapuluppada and the state government would allot the Visakhapatnam Metropolitan Region Development Authority land for a nominal rate of just 99 paisa.
In a move which is considered another major endeavour for Visakhapatnam as an emerging hub for IT investments, setting up IT/ITES campus is in alignment with IT minister Nara Lokesh's vision to draw investments and develop IT across Andhra Pradesh.
The company has set a target of March 2029 for the commencement of its commercial operations.
With the entire project being 100 per cent self-funded, Cognizant's expansion into Visakhapatnam reinforces its long-term commitment to Andhra Pradesh that further cements the state's reputation as a future IT hub.
Welcoming the move, government whip P G V R Naidu (Ganababu) expressed gratitude to IT minister Nara Lokesh for bringing multinational companies to Visakhapatnam. 'The IT minister kept up his promise made to IT employees. It is a commendable initiative to create employment for 8,000 people with an investment of Rs.1,582 crore. With this, the long-cherished dream of Vizagites is going to become a reality soon,' he posted on the 'X' (formerly Twitter).
