HCL Tech to invest Rs. 7.5 bn in Andhra Pradesh, create 7,500 jobs in 10 yrs.

IT services major HCL Technologies will invest Rs. 7.5 billion to set up two facilities in Andhra Pradesh that will help create 7,500 jobs in 10 years.

According to an official statement, HCL is setting up its operations in Andhra Pradesh in two phases.

In the first phase, the Noida-based company will invest Rs. 4 billion to build an R&D centre in Kesarapalli village in Gannavaram. The facility is expected to accommodate more than 4,000 IT professionals, it said.

The phase-I will commence with the foundation stone laying ceremony on October 8 and is expected to be completed in seven years' time, employing more than 4,000 IT professionals, the statement added.

Phase II will be taken up later in Amaravati, the new capital of Andhra Pradesh in a campus of 20 acres.

The investment for this phase is expected to be Rs.. 3.5 billion and will include about 3,500 IT professionals in five years' time.

BS