Cognizant gets land at 99 paisa per acre

Andhra Pradesh has decided to allot land at the nominal price of 99 paisa to Cognizant Technology Solutions to establish a world-class IT/ITES campus in Visakhapatnam with an investment of 1,582.98 crore.

- STATESMAN NEWS SERVICE HYDERABAD, 20 JUNE

The project is expected to create 8,000 jobs over the next few years.

The state government today gave its nod to several projects worth 28,546 crore of investments, paving the way for the creation of more than 30,000 jobs.

Apart from Cognizant, investment projects of Adani Energy, Reliance, and Raymond were cleared.

Cognizant had sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA).

The company has set a target of March 2029 for the commencement of commercial operations.

IT minister Nara Lokesh said: "Under AP's IT & GCC Policy 4.0, we are committed to developing an ecosystem for the IT industry in the state.