AP inks deal with HCL Tech to set up Rs500cr research facility

Andhra Pradesh IT Minister Nara Lokesh today signed a deal with HCL Technologies for setting up of Rs 500-crore IT research facility in Vijayawada.

On his maiden visit to the national capital today after his entry into the state cabinet, son of AP CM N Chandrababu Naidu, met HCL founder and Chairman Shiv Nadar at its Noida campus for the purpose.

"The company will invest Rs 500 crore in ten years, for a development centre, training facility and other ancillary facilities. HCL aims to hire, employ and train 5,000 local residents in the region in two phases," said a release issued by AP government.

The company will develop its first centre at Kesarapalle village in Gannavaram mandal of Krishna district in a total area of 17.86 acres and the second centre in Ainavulu village of Amaravati.

"Letter of allocation for land parcel for Phase I of the project was handed over to HCL Chairman," said the release.

"At a time when there are headwinds in the sector, HCL's investment is a testimony of the talent available in Andhra Pradesh, said Lokesh in a statement.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)