Cognizant to invest over $30 million in Hyderabad

HYDERABAD: Cognizant has set out plans to invest over $30 million on its operation here over the next two years.

The company has acquired nine acre of space at a Special Economic Zone (SEZ) here to construct its first fully-owned techno-complex. In addition the Andhra Pradesh government would provide Cognizant a larger space in the SEZ. The company did not provide details of the new land to be acquired.

The investments on Hyderabad are meant for land acquisition, facilities construction and furnishing. The company’s bigger plan is to invest over $200 million by the end of 2008 to build new fully owned complexes in Chennai, Coimbatore, Hyderabad, Kolkata and Pune.

In India, the company aims to have over three million square feet and a capacity for over 30,000 new employees.

``The campus in the SEZ would provide us a proper ecosystem. We have found a great deal of activeness in the AP government. We are glad that it recognizes us as a large company,’’ said Lakshmi Narayanan, president and CEO, Cognizant.

``Building larger cognizant-owned facilities in India is a key part of our strategy. We expect our new construction program will enable us to meet growing customer demand in North America, Europe, South America and Asia and continue to attract the industry’s most talented and best people,’’ added Narayanan.

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