03 August 2007
Cognizant to invest $100 mn more in India
CHENNAI: Cognizant Technology Solutions said it will
invest an additional $100 million in India, taking its total investment in the
country to $300 million over the next two years.
The IT and BPO major said the additional investment will
be used to expand its new Chennai campus — located in a special economic zone —
which will double in size with an area of over 2 million sqft.
Cognizant is increasing the size of
the first phase of planned construction of its SEZ facility in Coimbatore to
over 7,25,000 sqft. It also plans to acquire additional property in Hyderabad
and Chennai.
Chief financial and
operating officer Gordon Coburn said: “We expect this investment to enhance our
flexibility to meet the escalating demand for our services from both new and
existing customers around the world.”
In November 2006, Cognizant announced it has planned to
spend more than $200 million on land, building and other facilities for upcoming
techno-complexes. The move, it said, would increase its existing campus area in
India by more than 3 million sqft with a capacity to accommodate over 30,000 new
employees.
Of the 46,000
professionals globally, over 35,000 are in India, spread across its eight
locations in Chennai, Pune, Kolkata, Bangalore, Hyderabad, Mumbai, Coimbatore
and Kochi.
Source:Economic Times, August 3
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