Chip giant Intel today said it will invest over USD 120 million in consolidating its existing research and development infrastructure in the city.
"....We are going to spend over USD 120 million; this investment is largely a part of our consolidation plan," Intel India President Kumud Srinivasan said.
Speaking to reporters before the ground breaking ceremony of Intel's new building SRR3, she said, "Today in Bangalore we have few owned and few leased property, this expansion is going to allow us essentially to consolidate our employees on to our owned property."
"... Idea of course is that it is going to continue to help Intel India become - inside of Intel- the global centre of excellence for chip design and platform," she added.
Intel has a large campus at Sarjapur Ring Road in Bangalore, with two buildings called SRR1 and SRR2. The new building, SRR3, will cover 18 acres and comprises two buildings. The estimated completion date for SRR3 is early to mid-2015.
Stating that India centre makes significant contributions to the entire product portfolio offered by Intel, Srinivasan said, "Our new capacity in Bangalore will give us the right resources to make a meaningful difference as the company moves into exciting areas like the Internet of Things."
"This move reinforces Intel's commitment to invest and grow in India," she added.
Pointing out that Intel has 4,500 employees in India, she said, "Most of us are here in Bangalore; ... Essentially it (consolidation) will allow us to have most of us in the two owned properties- we have one in the old airport road and this one (Sarjapur Ring Road property).
