The Government of Chandrababa Naid in Andhra Pradesh concluded an agreement with the Cognisant company with information technology. In the agreement, the company in the city of Akry will receive land for a modest 99 Paise.
This agreement comes several months after Andhra Pradesh has concluded a similar agreement with the largest Indian manufacturer Tata Consultance Services (TCS).
Cognizant promises to invest in Visakhapatnam
Cognizant, who is based in Teaneck in New Jersey, promised an investment £1 582 Crore over the next eight years when setting up an IT camp with 8,000 jobs in the coastal city of Visakhapatnam.
The CNBC announced that the IT area would be strategically located, about 600 kilometers from Hyderabad and 800 kilometers from Chennai, two of the largest Indian software nodes, except for Bengalur.
The cognizant is expected to start commercial operations in Visakhapatnam by March 2029.
Government Vision for Sales of Land
In April this year, after the announcement of the sale of land on 21 Acres of TCS, the State Minister of Nara Loket technology, CNBC said that it aims to make Visakhapatnam a new Center for IT investment.
“I’m still joking and telling people that if Goa was to marry Bangalore and have a child, it could be Visakhapatnam. We have it all and we believe it could be a trigger for larger investments coming in Visakhapatnam,” Loking said.
A similar agreement, various companies
In April, the Andhra Pradesh cabinet approved an allocation of 21.16 acres of TCS soil in Visakhapatnam for a token rental of 99 Paise.
Tech Major plans to invest £1 370 crore in the proposed soil, IT HILL NUMBER 3 to set up a campus IT, which is expected to generate 12,000 jobs.
In addition, the cabinet also nodded Mahamaya Industries Limited to expand its steel power plant in Vizianagararam. In Nadimpal from Pattadumandal in the district of Guntur, he assigned 6.35 acres to ESIC (State Insurance Corporations of Employees). This country will be provided either free of charge or at a nominal price for the purpose of setting up 100-bed hospitals and residential areas for employees.
(Tagstotranslate) Andhra Pradesh (T) Cognisant (T) IT Campus (T) Visakhapatnam (T) Tata Cognisant gets the soil for 99 Paise
