Andhra Pradesh Government allots 21.31 acres of land to an IT Firm for just 99 paise.
The recent development was reported by Moneycontrol, claiming that Global tech giant Cognizant Technology Solutions will build an IT campus in Vizag (Visakhapatnam), for which it is planning an investment of Rs 1,582 Crore.
The land was under the Visakhapatnam Metropolitan Region Development Authority (VMRDA).
VMRDA is responsible for promoting industrial growth, boosting tourism, and improving the overall urban living experience in Andhra Pradesh.
This investment will not only help Andhra become a global technology hub but will also create over 8000 jobs in upcoming years.
Cognizant has set a target for March 2029 to complete commercial operations.
This investment follows discussions earlier this year, during which Andhra Pradesh’s IT Minister, Lokesh Nara, met with Cognizant CEO S.Ravi Kumar at the World Economic Forum in Davos, encouraging the company to explore opportunities in emerging cities, such as Visakhapatnam.
