Amaravati: In a major development pertaining to the capital region of Andhra Pradesh, multinational IT firm HCL Technologies has decided to invest Rs 500 crore in Amaravati. HCL will be the first software firm to set foot in the capital region.
According to communication from chief minister’s office on Thursday, the firm has consented to invest in the state capital region in two phases. “The tech giant has evinced interest to invest Rs 500 crore to launch IT and ITES services from Amaravati. If all goes as per plans, HCL will begin its full scale operations by October, 2018,” the communication from CMO read. About 5,000 jobs will be created with the entry of HCL. The CMO revealed the news after CM held a review meeting with the state investment promotion board (SIPB).
The CMO officials further said that the IT firm has also accepted to establish a training institute in the capital region to provide quality services to employees.
According to sources, a delegation from HCL has visited Vijayawada on Wednesday and Thursday to explore opportunities to setup its administrative office in the city. Advisor (non-resident Telugu affairs and Investments) to government of Andhra Pradesh Vemuru Ravi Kiran accompanied the delegation, it is said.
The news comes just a day after state government officials said that the first financial BPO will come up in Medha Towers, the IT special economic zone (SEZ) in Gannavaram.