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Cognizant plans $200 Mn investment
By siliconindia
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Wednesday, 04 July 2007, 19:30 IST
Chennai: Cognizant Technology Solutions, a provider of global IT and business process outsourcing services will invest around $200 million in India through the end of 2008 to build new fully owned techno-complexes in Chennai, Coimbatore, Hyderabad and Kolkata.
"The expansion programme will enable the company to meet the growing customer demand in North America, Europe, South America and Asia, and continue to attract the industry's 'most talented and best people'," said R. Chandrasekaran, President and Managing Director, Cognizant.
In the first phase of expansion the company will set up its second IT and business process outsourcing services infrastructure in Kolkata. Through an investment of close to $46 million by the end of 2008 for land acquisition, construction of facilities and furnishing, it will add 500,000 sq. ft of space for the company to accommodate around 4,000 more employees.
The company will also continue to lease additional facilities in Kolkata, the centre focuses on segments such as financial services, pharmaceuticals, retail, enterprise resource planning and customer relationship management.
At present, out of its 44,000 global workforce around 33,000 are in India with development centres spread across eight cities, including Chennai and Bangalore. By end of 2007, the company is expected to reach its global headcount of about 55,000.