<p>Hyderabad: In a major boost to Andhra Pradesh’s IT ecosystem, global IT giant, Cognizant Technology Solutions will be establishing a world-class IT/ITES campus in Visakhapatnam with an investment of Rs 1,582.98 crore. The project is expected to create 8,000 jobs over the next few years.<br><br>Cognizant has sought 21.31 acres of land at Kapuluppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), and the state government would allot the land for a nominal rate of 'just' 99 paisa per acre.</p>.TCS gets 21.6 acres in Visakhapatnam at 'just' 99 paise as Andhra cabinet approves land allotment.<p>“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,” said a senior official of the Andhra Pradesh government.</p><p>The Andhra Pradesh government in April had allotted around 21.6 acres to another IT services giant TCS at the same price of Rs 99 paisa per acre. TCS committed to invest Rs 1,370 crore in this Vizag unit, creating 12,000 jobs.</p><p>Also the 7th State-Level Investment Promotion Board (SIPB) meeting held on Thursday approved 19 projects worth Rs 28,546 crore in total. These investments are expected to create employment opportunities for 30,270. So far, across the seven Andhra Pradesh SIPB meetings, approvals have been given to investments totaling Rs 5,34,684 crore, generating job prospects for 4,73,969 people.</p><p>Chief Minister N Chandrababu Naidu who had chaired the SIPB meeting made it clear that companies allotted land must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. </p><p>He also mentioned that MSME parks are being established in every Assembly constituency across the state, and these should be utilized to promote entrepreneurs under the ‘One Family – One Entrepreneur’ initiative. He directed that details of all industries, projects, investments, and jobs created should be made available on an online portal. Furthermore, he suggested mapping these industries based on clusters.</p>
<p>Hyderabad: In a major boost to Andhra Pradesh’s IT ecosystem, global IT giant, Cognizant Technology Solutions will be establishing a world-class IT/ITES campus in Visakhapatnam with an investment of Rs 1,582.98 crore. The project is expected to create 8,000 jobs over the next few years.<br><br>Cognizant has sought 21.31 acres of land at Kapuluppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), and the state government would allot the land for a nominal rate of 'just' 99 paisa per acre.</p>.TCS gets 21.6 acres in Visakhapatnam at 'just' 99 paise as Andhra cabinet approves land allotment.<p>“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,” said a senior official of the Andhra Pradesh government.</p><p>The Andhra Pradesh government in April had allotted around 21.6 acres to another IT services giant TCS at the same price of Rs 99 paisa per acre. TCS committed to invest Rs 1,370 crore in this Vizag unit, creating 12,000 jobs.</p><p>Also the 7th State-Level Investment Promotion Board (SIPB) meeting held on Thursday approved 19 projects worth Rs 28,546 crore in total. These investments are expected to create employment opportunities for 30,270. So far, across the seven Andhra Pradesh SIPB meetings, approvals have been given to investments totaling Rs 5,34,684 crore, generating job prospects for 4,73,969 people.</p><p>Chief Minister N Chandrababu Naidu who had chaired the SIPB meeting made it clear that companies allotted land must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. </p><p>He also mentioned that MSME parks are being established in every Assembly constituency across the state, and these should be utilized to promote entrepreneurs under the ‘One Family – One Entrepreneur’ initiative. He directed that details of all industries, projects, investments, and jobs created should be made available on an online portal. Furthermore, he suggested mapping these industries based on clusters.</p>