Visakhapatnam (AP), Mar 29 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu today said Visakhapatnam will become a fintech hub in the country in future as information technology sector was gaining momentum in the state. Also Read - Bihar Assembly Election 2020: Know The Key Candidates Contesting For Phase 1

It was a good sign that a Fortune 500 company like Franklin Templeton Investments had chosen to set up a centre in the city, he said after inaugurating the office of Franklin Templeton Investments here. Also Read - Bihar Assembly Election 2020: Amid Tight Security And COVID Guidelines in Place, 71 Assembly Seats go to Polls Today

“The company will invest Rs 450 crore here gradually on setting up the centre and provide 2,500 high-end jobs. Today it has opened the office,” he added. Also Read - Bihar Assembly Election 2020: Know The Key Candidates Contesting For Phase 1

Naidu recalled how the company had first set up the centre in Hyderabad in the undivided AP way back in 2002 and expressed confidence that the Vizag centre would be even more successful than the one in Hyderabad.

Franklin Templeton Investments, president and Chief Operating Officer, Jennifer M Johnson said the company had confidence and faith in the Chief Minister, the key architect and visionary, who built the IT sector in Hyderabad and is now doing so in Visakhapatnam.

She expressed confidence that the Vizag centre would flourish.

Earlier, the Chief Minister inaugurated the centre of Conduent Inc. in the IT park at Rushikonda.

The company will generate 5,000 jobs in the next two years and will invest roughly Rs 650 crore.

Naidu said he was trying to create the right eco-system for IT companies to flourish in the city.

In this connection, he lamented that some political parties were creating hurdles in the onward march of the state on the path of progress.

He said unfortunately a hue and cry was being raised over the allotment of land on the beach road to Lu Lu group to build a world class convention centre and shopping mall.

This is published unedited from the PTI feed.