Visakhapatnam, Dec 12 (NationPress) The Chief Minister of Andhra Pradesh, N. Chandrababu Naidu, announced on Friday that the city will be transformed into a world-class hub for knowledge and technology, offering excellent living conditions.

He described Visakhapatnam as an exceptionally beautiful and pollution-free city, emphasizing its safety and the quality of its residents. Several international corporations, including Google, Microsoft, and Amazon, are eager to establish offices in the city.

During the groundbreaking ceremony for Cognizant Technologies, attended by IT Minister Nara Lokesh, the Chief Minister stated that Visakhapatnam is poised to be a pivotal player in the technology revolution and that the city, along with surrounding areas, will be developed into an economic powerhouse.

The state government has allocated 22 acres of land for Cognizant, which plans to invest Rs 1,583 crore to create an 8,000-seat facility in Visakhapatnam. Initially, the company began operations with 1,000 associates.

The Chief Minister mentioned that the CEO of Cognizant has committed to expanding the workforce to 25,000. Furthermore, he expressed his satisfaction in laying the groundwork for eight additional companies, including Tech Tammina, Satwa Developers, Imaginnovate Tech Solutions India, Fluentgrid Limited, Motherson Technologies, Qorp Technosoft, CAN Healthcare, RCM Services, and Nanrel Technologies, all at the same time.

Highlighting the abundant talent among the youth, the Chief Minister remarked that young individuals from the state are making their mark in the global IT sector. He pledged full support to Cognizant and urged the company to complete the campus development in under a year.

He asserted that Visakhapatnam will emerge as a knowledge economy and a prime IT destination, becoming a vibrant city with the completion of the Bhogapuram airport and a hub for tourism.

Google is set to establish an AI data center in Visakhapatnam, and numerous other companies are also preparing to launch their operations in the city.

CM Naidu noted that the living costs in Visakhapatnam are 20 percent lower compared to other cities. He stated that Andhra Pradesh has attracted investments exceeding Rs 20 lakh crore, including Rs 13.5 lakh crore during the CII partnership in Visakhapatnam alone. Additionally, he mentioned the development of a Quantum Valley in Amaravati, with the first quantum computer expected to be operational in six months.

The Chief Minister emphasized that the state government prioritizes industries and startups by enhancing the business environment and establishing Escrow accounts. He expressed confidence that the growth rate in Andhra Pradesh would reach 15 percent soon.

Lokesh added that Andhra Pradesh aims to become an economic powerhouse. He indicated that the establishment of Cognizant will mark a significant milestone in Visakhapatnam's evolution into a global technology hub.

Cognizant's CEO, Ravikumar, expressed the company's eagerness to tap into Visakhapatnam's potential for talent and innovation.

He elaborated that Cognizant has launched new delivery centers in Bhubaneswar, Indore, and at the Techfin center in Gift City, Gujarat. Of the company's 3.4 lakh employees, 70 percent are based in India.