Global IT leader Cognizant Technology Solutions is set to establish a major campus in Visakhapatnam after acquiring 21.31 acres of land from the Andhra Pradesh government at a symbolic cost of just 99 paise. With a planned investment of ₹1,582 crore, the project aims to create around 8,000 jobs over the next eight years.

The land, located in Kapulauppada within the Visakhapatnam Metropolitan Region Development Authority (VMRDA) limits, is part of the state’s broader strategy to develop the city into a thriving tech hub. As per reports from MoneyControl, Cognizant is targeting March 2029 to begin commercial operations at the new facility.

This move aligns with Chief Minister N. Chandrababu Naidu’s vision of making Visakhapatnam the economic capital of Andhra Pradesh. Offering the land at a token price reflects the government's strong intent to attract top-tier tech investments to the region.

The initiative gained momentum after a meeting earlier this year between IT and HR Minister Nara Lokesh and Cognizant CEO Ravi Kumar S during the World Economic Forum in Davos, where Lokesh encouraged expansion into tier-2 cities. He famously remarked that Visakhapatnam could be imagined as “if Goa married Bangalore and had a child.”

This development mirrors a similar deal made in April 2025, when Tata Consultancy Services (TCS) was granted 21 acres in the city for the same nominal rate, reinforcing the state's deliberate efforts to establish a robust technology corridor in Visakhapatnam.