Invensys to invest $20M in India

By SiliconIndia   |   Thursday, 17 May 2007, 07:00 Hrs
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Hyderabad: Invensys, a UK based global industrial automation, controls and transportation group will invest $20 million to ramp up manpower at its development center in Hyderabad during the current financial year.

“As a part of our long-term commitment to India, we will make an incremental investment of around $20 million in adding 200 software development, quality assurance and domain engineers to existing 330 at our Hyderabad center during the 2008 fiscal,” said Steve Young, Senior Vice-President, Invensys.

The main objective is to take the India Development Center (IDC) to the next level of maturity by turning it into a centre with end-to-end development, he said.

The 50,00sq.ft IDC was set up in 2002 at the Vaneburg IT park in Hyderabad with an objective to retain the intellectual property within the company and to supplement the current development and support groups in the U.S. The company had spent around $35 million on this center over the last five years.

“The company would leverage this success into opportunities in other major oil and gas consumption in the country,” said Young. The company had entered into a $30 million contract with Reliance Industries for supplying process automation and control systems for its 100-acre Jamnagar export refinery project around three years back.

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