By IANS
Hyderabad : The Andhra Pradesh government Wednesday allotted 75 acres of land to Tata Consultancy Services (TCS) and 40 acres to Cognizant Technology Solutions to set up office complexes on the outskirts of the state capital.
A cabinet meeting chaired by Chief Minister Y.S. Rajasekhara Reddy ratified the memoranda of understanding (MoUs) signed recently with the two IT majors for the expansion of their operations in the state.
State Information Minister Anam Ramnarayan Reddy said land had been allotted at Adibatla, the new IT destination on the city outskirts, at a cost of Rs.4 million per acre.
The minister said TCS plans to invest Rs.4 billion and build around 1.5 million square feet of office space to accommodate 15,000 employees by 2013. Cognizant has committed to investing Rs.3.3 billion in order to develop two million square feet space for 12,000 employees by 2012.
Anam Ramnarayan Reddy added that new IT corridors were being developed to reduce congestion in Hyderabad's Hitec City – home to many IT giants.
In other key decisions, the cabinet cleared two proposed townships to be developed by the Hyderabad Urban Development Authority (HUDA) along the upcoming outer ring road around Hyderabad.
The minister said HUDA will acquire 550 acres of land at Sringar in Ranga Reddy district while a second township will come up on 400 acres of land at Tellapur in Medak district.