The Indian multinational IT services behemoth HCL Technologies limited has reportedly announced to invest INR 750 crore to build two new facilities in the state of Andhra Pradesh. As per trusted sources, the investment would assist in creating around 7,500 jobs over the span of next 10 years.
As per the statement released by HCL Technologies, the company plans to set up the two facilities in two phases in Andhra Pradesh. The Noida-based company would invest close to INR 400 crore in the first phase to construct an advanced research and development center in the Kesarapalli village of Gannavaram which is a part of Vijayawada metropolitan region.
Sources familiar with the development claim that the new facility is likely to accommodate more than 4,000 IT professionals. As per a report published in The Economic Times, the foundation stone laying ceremony of the first phase would commence on October 8 with the completion of the facility expected over the next seven years.
Reportedly, the second phase of the project would be taken up in the new capital of Andhra Pradesh – Amaravati. Estimated to employ about 3,500 IT professionals over the next five years, the total investment for second phase is anticipated to be approximately INR 350 crore. According to reliable sources, the second facility would be spread across a campus of 20 acres.
For the record, HCL Technologies Limited emerged on the global landscape after its first IPO in 1999. The company presently operates out of 32 nations along with its subsidiaries and has an overall revenue of close to USD 6.1 billion as recorded on 31st December 2015. The IT services major had initiated an INR 100 crore HCL Grant in 2016 to support NGOs and individual social leaders that are involved in executing projects for the upliftment of the underprivileged and development of India.