International IT company, Cognizant Technologies will commence its operation in Visakhapatnam on 12th of this month. Chief Minister, Chandrababu Naidu will also inaugurate the temporary campus and lay the foundation stone for the permanent campus on the same day. Ever since coming into power, state government has been vigorously attracting major IT companies.
The government has allocated 21.31 acres in Kapuluppada IT Hills on lease to Cognizant. In three phases, the company intends to develop an AI and digital transformation IT campus. Phase-I is expected to get completed by 2029.
Cognizant would invest Rs. 1,583 crore to establish the IT campus. This would be its third campus in the State after Chennai and Bengaluru. Till the permanent campus is ready, the company will operate from a temporary space in the Madhurawada IT Zone on a plug-and-play basis. The temporary campus can seat 800.
The campus is likely to generate about 8,000 jobs. The commencement of operations in Visakhapatnam is likely to trigger economic activities valued at about Rs. 15,000 crore.
