HCL Tech signs MoU with Andhra govt to set up Rs 500 cr campus

State to allot 28 acres for centre; facility to employ 5,000 local residents in two phases

India's fourth largest IT services company HCL Technologies today signed an MoU with Andhra Pradesh government to set up its campus in Vijayawada-Amaravati region.

The company will invest Rs 500 crore in ten years in the project involving a development centre and a training facility spread over 27.86 acres to be allotted by the government.

"The objective of this MoU is to create a state-of-the-art global IT development centre, recruit local talent and mainly create an ecosystem to nourish the sector," AP government said in a statement.

The company is committed to provide employment to 5,000 local residents under two phases. In