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DuPont doubles investment for Hyderabad R&D centre
NEW DELHI |
NEW DELHI (Reuters) - U.S. chemical maker DuPont Co will double its previously announced investment in a planned R&D centre in Hyderabad to 2 billion rupees ($51 million) over 2 years, a senior official said.
In February, DuPont said it would invest 1 billion rupees in the centre, which will be the company's sixth major such unit outside the United States.
"Our scope has changed. We are adding few more elements now. And the cost of construction has now gone up," Balvinder Singh Kalsi, president and chief executive of DuPont's Indian subsidiary, told reporters on Tuesday at the World Economic Forum's India summit.
He said the centre would have capacity for 650 people and would be operational by June 2008.
Kalsi also said DuPont would spend 250 million rupees to expand its coating and colour making capacity in Gujarat to cater to auto component makers.
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