Cognizant to spend $200mn in new facilities

Cognizant to spend $200mn in new facilities

BS Reporter / Mumbai July 3, 2007

US-based IT major Cognizant Technologies plans to spend $200 million by 2008-end to build new fully-owned techno-complexes across Chennai, Coimbatore, Hyderabad and Kolkata.

The investment will be in phases. In the first phase, the company today announced a $46 million (Rs 188 crore) investment in Kolkata for a techno-complex. The complex will accomodate close to 4,000 employees.

This new fully-owned techno-complex is coming up on 20 acres of land in Bantala, a special economic zone designated area. In addition to this facility, Cognizant will continue to lease additional facilities in Kolkata as required to meet its headcount growth requirements.

R Chandrasekaran, president and managing director, Cognizant said, "As we plan for the next phase of Cognizant