After software giants Tata Consultancy Services (TCS) and Cognizant, it is now the turn of another IT company – Infosys to get prime piece of land in Visakhapatnam at a nominal price of 99 paise per acre.
The Andhra Pradesh government on Monday approved the establishment of an IT campus by Infosys in Visakhapatnam, allocating 20 acres of land for the project.
According to government orders issued on Monday, the land has been allotted at a nominal price of 99 paise per acre for setting up an IT/ITES campus at Yendada Hill. The move is part of the state’s strategy to develop Visakhapatnam into a major IT hub.
Infosys plans to invest Rs 750 crore in the project and aims to generate employment for around 7,000 people.
The government has set a target to complete Phase-1 of the project by January 2029, with the entire project expected to be completed within six years. A possible extension of two years may be granted if required.
The proposed campus will be developed as a green facility powered entirely by renewable energy. The government has assured full infrastructure support, including roads, water, and electricity.
Additionally, infrastructure development worth Rs 79 crore will be undertaken through the Andhra Pradesh Industrial Infrastructure Corporation (APIIC). The government has also directed Infosys to establish a 10,000-seat campus.
Officials stated that the project marks a significant step toward positioning Visakhapatnam as an international IT destination.