New Delhi, June 20 -- The Chandrababu Naidu government in Andhra Pradesh has struck a deal with information technology company Cognizant. In the deal, the company will receive acres of land in the city for a meagre 99 paise.

This deal comes a couple of months after the Andhra Pradesh government struck a similar deal with India's biggest software maker, Tata Consultancy Services (TCS).

Cognizant, which is headquartered in Teaneck, New Jersey, has promised an investment of Rs.1,582 crore over the next eight years in setting up an IT campus with 8,000 jobs in the coastal city of Visakhapatnam.

CNBC reported that the IT campus will be strategically located, about 600 kilometres from Hyderabad and 800 kilometres from Chennai, two of India's...