Cognizant Technology Solutions is set to invest approximately Rs 1,583 crore to establish a world-class IT and IT-enabled services (ITES) campus in Visakhapatnam, Andhra Pradesh. The company has secured a 21.31-acre plot of land in Kapulauppada at a nominal rate of 99 paise per acre. The project is expected to generate around 8,000 direct jobs over the next eight years. This development follows similar land allotments by the Andhra Pradesh government to other IT companies such as Tata Consultancy Services (TCS), which have also benefited from the state's policy of offering land at minimal cost to attract major IT investments. Officials have welcomed Cognizant's commitment, highlighting the investment's potential to boost the region's IT infrastructure and employment opportunities.