Vizag Gets Two Big IT Investments

Leading asset and mutual fund management company Franklin Templeton and its partner Innova Solutions will open their shop in Vishakapatnam later this year. The companies will come up on the second floor of the new 11-floor building of Tech Mahindra in the heart of the city.

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Franklin Templeton and its partner Innova Solutions will invest $70 million with 198 seats in the first phase and will later scale up the operations over a period of eight years. The state government will allot 40 acres in the city outskirts for the permanent campus.

The company is said to have convinced on the availability of high-end manpower in artificial intelligence, data analytics and processing and availability of infrastructure in Visakhapatnam before setting up shop.This will come as a massive boost to IT in the largest city of Andhra Pradesh.