Cognizant Gets Approval for Vizag IT SEZ: Cognizant Secures Central Approval for Major IT SEZ Project in Visakhapatnam
The new Cognizant IT SEZ in Visakhapatnam is expected to attract major investment create thousands of jobs strengthen Andhra Pradesh technology ecosystem and accelerate the city’s growth as an IT destination
Cognizant Gets Approval for Vizag IT SEZ: A major boost for Andhra Pradesh’s technology sector has arrived after Cognizant Technology Solutions received the Central Government’s approval to establish a new Information Technology and Information Technology Enabled Services Special Economic Zone in Visakhapatnam. The approval is expected to strengthen the state’s position as a growing destination for technology investments.
The upcoming SEZ will be developed across 8.98 hectares in the IT Madhurawada 2 area of Visakhapatnam Rural. Cognizant received its Letter of Approval on June 11, while the Ministry of Commerce and Industry officially issued the final notification on June 25. An Approval Committee led by the Development Commissioner has also been formed in line with SEZ regulations. The project area has additionally been declared an Inland Container Depot to simplify customs related operations.
Industry experts believe the project could attract an investment of nearly Rs 1580 crore while creating around 8000 employment opportunities in phases. Once fully developed the campus is expected to significantly strengthen Visakhapatnam’s IT infrastructure and enhance its reputation as a leading technology hub.
The approval gains added importance because Cognizant had earlier withdrawn proposals for two IT SEZ projects planned in Nanakramguda and Adibatla in Telangana earlier this year. The company’s decision to move ahead with a large scale investment in Visakhapatnam is now being viewed as a significant milestone for Andhra Pradesh’s expanding IT sector.
