Cognizant Leads IT Surge in Visakhapatnam with Rs 3,700 Crore Investment

Andhra Pradesh Chief Minister N Chandrababu Naidu launched the construction of a new IT campus for Cognizant and eight other companies, representing a total investment of Rs 3,700 crore. This venture is set to create around 41,700 jobs. Cognizant alone will invest Rs 1,583 crore for a campus in Visakhapatnam.

In a significant boost to the region's tech industry, Andhra Pradesh Chief Minister N Chandrababu Naidu laid the foundation for a Cognizant IT campus, part of a broader initiative involving nine firms with a total investment of Rs 3,700 crore.

The investment promises an influx of employment opportunities, projecting the creation of approximately 41,700 jobs. Specifically, Cognizant is channeling Rs 1,583 crore into establishing a state-of-the-art IT campus in Visakhapatnam, predicted to generate jobs for 8,000 individuals.

In preparation, 21 acres at Kapuluppada IT Hills have been allocated for the project's development in three phases. Cognizant's temporary operations will begin from Mahati Fintech Building in Rushikonda IT Park, focusing on cutting-edge fields like AI, machine learning, and digital engineering until the first phase's completion. IT Minister Nara Lokesh inaugurated the provisional campus, designed to house 1,000 employees.