AP News State Govt allocates Land To TCS, Cognizant At Adibatla
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| State Govt allocates Land To TCS, Cognizant At Adibatla |
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The Andhra Pradesh government allotted 75 acres of land to Tata
Consultancy Services (TCS) and 40 acres to Cognizant Technology
Solutions to set up office complexes at Adibatla on the outskirts of
the state capital. A cabinet meeting chaired by Chief Minister Y S
Rajasekhara Reddy ratified the memoranda of understanding (MoUs) signed
recently with the two IT majors for the expansion of their operations
in the state. State Information Minister Anam Ramnarayan Reddy said land, currently under the state-owned AP Industrial Infrastructure Corporation, had been allotted at Adibatla, the new IT destination on the city outskirts, at a cost of Rs 4 million per acre (that is, Rs 20 lakh towards land cost and Rs 20 lakh towards development charges). The minister said TCS plans to invest Rs 4 billion and build around 1.5 million square feet of office space to accommodate 15,000 employees by 2013. Cognizant has committed to investing Rs 3.3 billion in order to develop two million square feet space for 12,000 employees by 2012. “Growth of IT and ITES industry in Andhra Pradesh, more particularly in Hyderabad, is a success story. In order to reduce the congestion in Hitec City area which is home to many IT gaints and to open up new vistas for IT growth in Greater Hyderabad, Adibatla is the new IT destination,” the minister said.             |