Oct 9: Leading infotech company HCL Technologies will invest Rs 750 crore towards setting up two facilities in Andhra Pradesh. This is expected to open up around 7500 jobs in the coming 10 year period. The establishing of the two facilities will happen in two phases.
A Research and Development (R&D) center, which is expected to accommodate more than 4000 IT professionals, will be set up in Kesarapalli village, Gannavaram in the first phase. Reports suggested that Rs 400 crore will be pumped in to build the R&D center at Kesarpalli.
The second phase will consist of a 20 acre facility at Amaravati, the new capital of Andhra Pradesh. An amount of Rs 350 crore will be invested to build the campus, which within five years will offer job opportunities for around 3500 IT professionals.
News is that it will take almost seven years to set up the R&D center at Kesarapalli village, Gannavaram which will be part of the first phase.
It needs to be recalled that, with an aim to create over 2 lakh job openings in the electronics segment in the coming years, the Andhra government had signed a MoU with Flextronics, an electronics manufacturer. The MoU was signed in June 2018.
Post this, the new development need to be seen as a huge employment generation opportunity in Andhra Pradesh, as the government is investing in the electronics sector in a major way.