Execution of Agreement between GoAP and HCL Technologies Ltd. for R&D Facilities, IT Services and Skill Development Centre in Vijayawada

Business Wire India

The Government of Andhra Pradesh executed an Agreement with M/s HCL Technologies regarding HCL's proposed facility in Vijayawada and Amaravati in Andhra Pradesh today. The agreement was executed between Government of Andhra Pradesh and M/s HCL Technologies, which were represented by Shri B Sreedhar, IAS, Principal Secretary I/C Information Technology, Electronics and Communications Department, Government of Andhra Pradesh and Shri Vineet Vij, Vice President – Legal, Commercial, Regulatory & Compliance, HCL Technologies respectively, in presence of Shri Nara Lokesh, Hon'ble Minister of ITE&C, Panchayati Raj and Rural Development, Government of Andhra Pradesh and Shri Shiv Nadar, Founder & Chairman – HCL, Shiv Nadar Foundation.
 
The parties executed a Memorandum of Understanding (MoU) on 30^th March, 2017 wherein they agreed to the broad outline of the proposed investment by M/s HCL in Andhra Pradesh.
 
HCL's proposed facility in Vijayawada marks the first marquee investment by a leading IT company post the bifurcation of Andhra Pradesh. The company will invest Rs 500 crore in ten years, for a development centre, training facility and other ancillary facilities. HCL aims to hire, employ and train 5,000 local residents in the region across the two phases.
 
HCL will develop its first centre at Kesarapalle village in Gannavaram mandal of Krishna district in a total area of 17.86 acres. The second center will come up in 10 acres in Ainavulu village of Amaravati. Along with the Agreement, letter of allocation for land parcel for Phase I of the project was handed over by the Minister to HCL Chairman.
 
The Andhra Pradesh Government is committed to economic development and providing more opportunities to the young workforce of the State. The HCL IT and Training Centre will offer a great platform to local talent in cities like Vijayawada by providing them growth opportunities and ultimately helping contribute to our vision of becoming the best state in the country by 2029.
 
The proposed facility will create 5,000 new jobs in the region and proposes to be an 'equal opportunity' employer. The proposed facility is intended to service new innovations and high-end technology requirements of HCL's global clientele. Trainees are expected to undergo rigorous training by industry experts to equip them with the right skills required for attending to the technology needs of global customers of HCL.
 
On the occasion, Shri Nara Lokesh Hon'ble Minister of Andhra Pradesh (IT, Panchayat Raj and Rural Development) remarked, "I am confident that HCL's strategic project in Andhra Pradesh will be a catalyst to the IT/ITeS sector in Andhra Pradesh and facilitate creation of world class intellectual property and large scale employment through their R&D labs. At a time when there are headwinds in the sector, HCL's investment is a testimony of the talent available in Andhra Pradesh and the proactive governance of the State Government."
 
On the occasion, HCL Spokesperson said, "We feel privileged by the warm welcome extended by the Andhra Pradesh Government. This further reinforces our commitment towards our shared vision of creating an eco-system which will help shape career of youth and make them future ready. The Global IT and training center will act as a spring board for creative people's aspirations and knowledge management, thus making Andhra Pradesh an IT hub and a trend setter for today's youth."
 
HCL, one of the fastest growing IT companies in the world, boasts of revenues USD 7 billion and a net income of USD 1.3 billion.