Cognizant Tech Solutions to invest ₹1,582 cr to build an IT Campus in Visakhapatnam
Visakhapatnam, June 20: 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 ₹1,582.98 crore.
The project is expected to create 8,000 jobs over the next few years.
Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), and the state government would allot the land for a nominal rate of just 99 paisa.
This move is being seen as another big win for Vizag as an emerging hub for IT investments and for IT Minister Nara Lokesh, who has been actively driving investments and IT development across the state.
The company has set a target of March 2029 for the commencement of commercial operations.
With the entire project being 100% self-funded, Cognizant’s expansion into Visakhapatnam reinforces its long-term commitment to Andhra Pradesh.
The investment further cements the state’s reputation as a rising IT hub.
The project is expected to create 8,000 jobs over the next few years.
Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), and the state government would allot the land for a nominal rate of just 99 paisa.
This move is being seen as another big win for Vizag as an emerging hub for IT investments and for IT Minister Nara Lokesh, who has been actively driving investments and IT development across the state.
The company has set a target of March 2029 for the commencement of commercial operations.
With the entire project being 100% self-funded, Cognizant’s expansion into Visakhapatnam reinforces its long-term commitment to Andhra Pradesh.
The investment further cements the state’s reputation as a rising IT hub.