Amaravati: A substantial investment of Rs 1,582.98 crore has been announced by Cognizant Technology Solutions to build a cutting-edge IT and IT-enabled Services (ITES) campus in Visakhapatnam, Andhra Pradesh. This substantial expansion is expected to greatly strengthen the IT ecosystem in the area and create 8,000 new jobs.
The Visakhapatnam Metropolitan Region Development Authority (VMRDA) would receive 21.31 acres of land in Kapulauppada from the Andhra Pradesh government as part of the arrangement. In keeping with the state’s goal of luring significant IT investments, the property will be leased for a pittance of just 99 paise per acre.
Cognizant plans to start commercial operations at the Visakhapatnam campus by March 2029. The facility will be entirely self-funded, demonstrating Cognizant’s sustained dedication to Andhra Pradesh as a major centre for IT.
Andhra Pradesh’s increasing prominence as a cutting-edge technological hub is further supported by this development, particularly in tier-2 cities like Visakhapatnam. It is anticipated that the state’s economic growth, employment, and digital infrastructure development would be fueled by the entry of international IT corporations.
“With the entire project being 100% self-funded, Cognizant’s expansion into Visakhapatnam reinforces its long-term commitment to Andhra Pradesh,” the official release noted.
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