AP CM Lays Foundation for Cognizant IT campus, 8 Companies involving Rs.3,700 Cr Investment
Cognizant is going to invest Rs 1,583 crore to establish the IT campus in Visakhapatnam, which is expected to provide employment to 8,000 people
Visakhapatnam: Andhra Pradesh Chief Minister N Chandrababu Naidu on Friday laid the foundation for a Cognizant IT campus and eight others companies here, entailing a total investment of Rs 3,700 crore.
Along with IT major Cognizant, these companies are expected to generate about 41,700 jobs. "Cognizant is going to invest Rs 1,583 crore to establish the IT campus in Visakhapatnam, which is expected to provide employment to 8,000 people," an official release said.
The government has allotted over 21 acres to Cognizant at Kapuluppada IT Hills in the port city, and the firm will construct a world class Artificial Intelligence (AI) and a digital transformation IT campus in three phases there, it said.
Until the first phase is completed, Cognizant will operate temporarily from Mahati Fintech Building in Rushikonda IT Park, Hill-2, focusing on AI, machine learning, digital engineering, and cloud solutions.
IT Minister Nara Lokesh inaugurated the temporary campus which will accommodate 1,000 employees.
Other companies for which the CM laid the foundation stone include Tech Thammina, Satva Developers and Imaginnovate Tech Solutions India.
