AP Govt allocates Land to Cognizant

Hyderabad, Feb 24 (UNI) Congizant Technology Solutions(NASDAQ:CTSH) top-tier IT services provider was alloted 40 acres of land in Adibatla on the city outskirts for its expansion in Andhra Pradesh.

In the presence of Chief Minister Y S Rajasekhara Reddy and IT Minister P Sabita Reddy, Cognizant Vice Chairman Lakshminarayan and State IT Principal Secretary Ratna Prabha signed a Memorandum of Understanding(MoU), an official release here tonight said.

Cognizant with a market captailisation of Rs 58,000 crore planned to invest Rs 330 crore, add over twenty lakh Square feet for over 12,000 new employees by 2012. It committed to strive to employ students of Jawahar Knowledge Centres started by the State Government to train freshers for jobs in the IT industry.

The State Government aspired to transform the state into Knowledge Society and make available benefits of IT to the last mile in the State as part of its strategy to achieve balanced socio-economic development and provide gainful employment to educated rural youth, the release added.

UNI