To invest Rs.1,582 crore, create 8,000 jobs

In a significant development for Andhra Pradesh’s IT landscape, Cognizant Technology Solutions has announced an investment of Rs.1,582.98 crore to establish a state-of-the-art IT/ITES campus in Visakhapatnam. The ambitious project is expected to generate 8,000 jobs, marking a major milestone in the state's tech-driven growth agenda.

The proposed facility will come up on 21.31 acres of land at Kapuluppada, under the jurisdiction of the Visakhapatnam Metropolitan Region Development Authority (VMRDA). In a highly favorable move, the state government has agreed to allot the land at a nominal lease rate of just 99 paisa per acre, reinforcing its commitment to attract large-scale IT investments.

The development is being hailed as another major achievement for Andhra Pradesh IT Minister Nara Lokesh, who has been actively promoting the state as a prime destination for technology companies. With Cognizant aiming to begin commercial operations by March 2029, the project is fully self-financed by the company, showcasing its confidence in the region’s potential.