Vizag's IT Boom: Cognizant's ₹1,583 Cr Campus to Transform City

Cognizant Technology Solutions has acquired 21.31 acres of land in Visakhapatnam, Andhra Pradesh, on a long-term lease at a nominal rate of 99 paise. The land will be used to develop a ₹1,582.98 crore self-funded IT campus, projected to generate employment for 8,000 people over the next eight years.

The proposed site falls under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), with commercial operations scheduled to begin by March 2029. This strategic move aligns with the Andhra Pradesh government's broader initiative to attract major investments and position Tier-II cities like Visakhapatnam as emerging IT hubs.

The decision was approved during a recent state-level investment committee meeting, which cleared 19 industrial projects worth ₹28,546 crore—including ₹18,910 crore from the Adani Group, along with investments from Reliance Consumer Products, Chinta Green Energy, and Raymond.

The agreement follows discussions between IT Minister Nara Lokesh and Cognizant CEO S Ravi Kumar during the World Economic Forum in Davos. This move echoes a similar initiative involving TCS, which was granted 21.16 acres at the same nominal lease rate to build a ₹1,370 crore campus in the city. Andhra Pradesh has set ambitious targets of attracting ₹40 trillion in investments and creating two million job opportunities by 2029.

News by Rahul Yelligetti.