Honeywell Technology Solutions Lab Pvt (HTS) Limited to invest Rs 400 crore in Ilandhaikulam IT/ITES Special Economic Zone Park spread over 28.91 acres, promoted by state-run Electronics Corporation of Tamilnadu Ltd (ELCOT) in Madurai.
The company will provide 10,000 direct employment and 20,000 indirect employment in the next 5 years period, said a press release. ELCOT, promoter of the SEZ, has allotted 4.5 acre of land in the SEZ to Honeywell Technology, on a 99 years lease for their ITTES business.
A lease deed was signed on December 23, 2010 by HTS with ELCOT for the land allotment. The company is expected to start construction soon after getting approvals.
Honeywell presently has 6,000 employees including 2,500 aerospace engineers with centres in Madurai, Hyderabad, Brno in the Czech Republic and Shanghai and Beijing, China.