Cognizant announces $25.4 M expansion plan

By agencies   |   Tuesday, 29 March 2005, 08:00 Hrs
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CHENNAI: Nasdaq-listed Cognizant Technology Solutions today announced $25.4 million investment in Chennai for setting up a training academy and two software development blocks, which can accommodate 3,500 employees.

Cognizant was also evaluating an entry into Coimbatore by establishing a development center that could employ 400 people during the first year of operations, its president and CEO Lakshmi Narayanan said.

The IT services company, which employs its biggest workforce in Chennai at 7300 people, was committed to construct a fully-owned techno-complex in Siruseri, on the outskirts of the city. "This will be ready for occupancy in a phased manner, starting December 2005," Narayanan said.

The first phase of the new facility will have a development center spread over 2,00,000 sq.ft of built up space and will accommodate about 2000 professionals.

In addition to this facility, Cognizant has signed up six acres of land adjacent to its existing techno-complex in Thoraipakkom in Chennai for constructing another software development park. "This block will have a built up space of 1,50,000 sq.ft and will accommodate approximately 1,500 people when completed in December 2005," he said.

Narayanan said Cognizant was also constructing a dedicated training facility, Cognizant Academy, in its Siruseri facility. The facility, which will have built 75 classrooms in a built up space of 1,00,000 sq.ft to train about 1800 professional simultaneously, Narayanan said. "Cognizant is committed to investing $25.4 million in the Chennai expansion," he said.

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