AP Minister Nara Lokesh signed a deal

Vijayawada, May 13: The IT Minister of Andhra Pradesh Nara Lokesh has signed a deal with HCL Technologies for setting up of Rs 500-crore IT research facility in Vijayawada here on Friday.

After the entry of Nara Lokesh state into state cabinet, he visits the New Delhi and met the HCL founder and Chairman Shiv Nadar at its Noida campus for the purpose.

"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 in two phases," said a release issued by AP government.



The company will develop its first centre at Kesarapalle village in Gannavaram Mandal of Krishna district in a total area of 17.86 acres and the second centre in Ainavulu village of Amaravati.

"Letter of allocation for a land parcel for Phase I of the project was handed over to HCL Chairman," said the release.

"At a time when there are headwinds in the sector, HCLs investment is a testimony of the talent available in Andhra Pradesh", said Lokesh in a statement.