The Hindu Business Line : Invensys spending $20 m for expansion

Hyderabad May 17 Technology and automation solutions provider Invensys Plc is set to invest $20 million (about Rs 84 crore) in consolidation and expansion of its operations at its India development centre based in Hyderabad.

Earlier this year, Invensys, which commenced operations in India in 2002, strengthened operations by bringing two of its other centres - based in Chennai and Mumbai - into the Hyderabad facility located at the Vanenberg IT Park.

Mr Steve Young, Head of Global Development and Senior Vice-President, Invensys Process Systems, said that the company would bolster its IDC headcount from 330 to 530, thereby taking the development team of this division to over 50 per cent of the global operations.

Invensys Process Systems, the largest of several company divisions, contributes about $1.3 billion in revenues to the $5-billion company, which is headquartered in London.

Speaking to newspersons today, along with the IDC Vice-President Mr A.V. Ramam, Mr Young said that the company has so far invested about $35 million in Indian operations.

It views India as both a centre for development and support and a rapidly growing market for its products and solutions.

Coinciding with the IDC completing five years of operations in India, Invensys plans to step up its mandate for development work and support clients in the region in the areas of oil and gas and pharmaceuticals.

RELIANCE REFINERY

Invensys works with some of the largest oil and gas corporations globally, helping them in technology and automation of processes and in human-machine interface.

It has now bagged the mandate from Reliance Industries for automation of its refinery expansion project at Jamnagar.

The deal is valued at $30 million and could serve as a reference point for more such projects coming up in the country, and the region, Mr Young said.

The teams at IDC played a crucial role in bagging this project from Reliance against competition by charting out designs. They will now help in its execution.