India's largest software exporter by sales, Tata Consultancy Services has said that it is planning to set up a development campus in Nagpur, Maharashtra.

The company will invest Rs 600 crore in the phase one of the project. The facility will be developed in two phases. The company will employ 8,200 people for IT and BPO services in the first phase of the project.

The company said in statement that two of the development will be of a similar size. The facility will be built on a 54 acre property in MIHAN SEZ or the Multi-modal International Cargo hub and airport. The center will be built in two phases and will house 16,000 employees, the company said.

"Nagpur has the potential to become the next big hub for knowledge-based industries like IT and engineering with its strong eco-system of universities, talented people and infrastructure. After Mumbai and Pune where we employ over 40,000 persons, we are delighted to be part of the IT revolution in Nagpur," said Chief Executive Officer N. Chandrasekaran.

The shares of the company fell 2.14 percent and were being traded at Rs. 1,119.05 on the Bombay Stock Exchange (BSE).