Cognizant to invest Rs 1,582 crore in Visakhapatnam IT campus; eyes 8,000 jobs by 2029

VIJAYAWADA: In a major boost to Andhra Pradesh’s IT ecosystem, Cognizant Technology Solutions is all set to establish a world-class IT/ITES campus in Visakhapatnam with an investment of ₹1,582.98 crore.

The state has decided to allocate land at 99 paisa to Cognizant IT solutions, which will create 8000 jobs. This is considered as yet another feather in IT minister Nara Lokesh's crown as clinched big-ticket IT firm investment. Cognizant has sought 21.31 acres of land at Kapuluppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), and the state government would allot the land for a nominal rate of just 99 paisa. This move is being seen as another big win for Vizag as an emerging hub for IT investments. IT minister Nara Lokesh has been actively driving investments and IT development across the state. The company has set a target of March 2029 for the commencement of commercial operations. With the entire project being 100% self-funded, Cognizant’s expansion into Visakhapatnam reinforces its long-term commitment to Andhra Pradesh. The investment further cements the state’s reputation as a rising IT hub.