The Hindu Business Line : Intel likely to invest Rs 238 cr in Bangalore

Its proposed downsizing initiative globally has not deterred chipmaker Intel in stepping up its investment in India and expanding its research and development facilities.

As part of its cost-cutting initiative, Intel had announced that it would prune its under-performing business worldwide and at stake were 16,000 jobs.

However, the company is finalising its expansion plans in India and is expected to invest Rs 238.36 crore (about $50 million) in Bangalore. Intel is currently seeking approvals from the State Government agencies for expanding within its campus located on the outskirts of the city.

The firm is adding a third building to its software development and information technology R&D (research and development) centre, sources said.

The R&D centre currently consists of two buildings - SRR1 and SRR2, each housing an average of 1,000 people, said the company spokesperson. Now, a third building SRR3 is being planned, with the dateline set in mid-August.

The firm employs around 3,000 across 10 locations in India. About the people being hired to occupy the new building, the spokesperson noted, "Intel India never stopped hiring."

Investment plans

This expansion is part of the company's $1-billion investment in the country, announced recently when Mr Paul Otellini, Chief Executive Officer, paid a visit to India.

Mr Otellini had announced that $800 million would be invested over the next five years for business expansion and $250 million would be fed into the Intel Capital India Technology Fund to help stimulate technology innovation and growth.

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