HCL to setup business in AP with Rs. 500 crores investment

Posted on February 16, 2017

According to recent developments, one of the top IT companies in India, HCL is planning to setup its business in an IT park that’s coming up in Amaravati, the new capital of Andhra Pradesh. According to a senior government official, HCL chairman, Shiv Nadar and Andhra Pradesh CM, N Chandhrababu Naidu are likely to make a joint announcement about HCL’s venture into Andhra Pradesh next month. HCL will setup its business in Andhra Pradesh with an investment of Rs. 500 crores. This investment will be done in two phases. AP Investment Promotion Board, headed by chief minister Chandhrababu Naidu, has already cleared the company’s proposal. HCL will setup two green field campuses spanning 27.5 acres of land at the cost of Rs. 300 crores during phase 1 of its investment plan. Phase 2 of its investment plan is expected to commence on January, next year. Students would be recruited in these campuses for the fields of IT, BPO and high – end Engineering and R&D according to the spokesperson of HCL. Read more on Investments

Andhra Pradesh is one such state in India which has a lot of scope for development in various sectors. HCL’s plan to invest in Andhra Pradesh is a welcome move. It will create many employment opportunities and will contribute to improving the living standards of the people of Andhra Pradesh. The other states in India must take cue from AP Investment Promotion Board and must encourage investments in their respective states to generate employment opportunities and contribute to the Indian economy. Read more on Startup News