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Honeywell plans to invest Rs. 402 crore on new center
Honeywell Technology Solutions, the R&D arm of global technology major Honeywell, is setting up a
new centre in Bangalore. The company has received approval from the Karnataka government for
setting up the facility which entails an investment of Rs. 402 crore, according to highly placed sources in
the state government.
The new centre will come up in the Karnataka Industrial Areas Development Board’s ITôITeS industrial
area near the Bangalore International Airport at Devanahalli. Honeywell is understood to have informed
the government that the new facility would focus on product development, engineering and service in
the areas of automation and control solutions (ACS), R&D labs, prototyping and related activities.
When contacted, the company in an email statement, said: “We have applied to the state government
for the said project. We have not received a formal communication from the authorities on the same.”
Sources in the government said that Honeywell, in its proposal, had proposed to make an investment of
Rs. 402.50 crore which would likely to create employment opportunity for about 2,500 people.
However, the company declined to comment on this. The government approval is valid for a period of
two years. Honeywell Technology Solutions (HTS) has its technology and engineering centres located in
Bangalore, Hyderabad and Madurai. The company employs about 5,500 people in India. In Bangalore,
HTS operates three centers. According to the recommendations made by the state High Level Clearance
Committee and government, Honeywell will be provided with necessary infrastructure to set up the
unit. As per the approval, a 30-acre parcel of land will be allotted to the company in the ITTeS industrial
area at Devanahalli based on the assessment of land by the land audit committee. Apart from this, the
company will also get incentives as per the Karnataka IT Policy. The state government, in its order, has
advised the company to train local people and provide employment to the trained local youth.
As per the vendor development programme of the government, Honeywell has to prepare a vendor
development plan and procure the required inputs, components and sub-assemblies from local vendor
units. In its order, the government has advised the company to take up social infrastructure
development projects in the vicinity of the proposed location of the unit. The company declined to state
when the project work will be started or commissioned.
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Intel Capital plans to boost auto research in India with $100 million fund
Intel Capital, the venture arm of Intel, plans to support Indian entrepreneurs developing new
technologies for cars with its new $100 million Connected Car Fund. Indian companies will benefit from
this fund as they are known for innovation, said Sudheer Kumar Kuppam, managing director, Asia
Pacific, Intel Technology India Pvt. Ltd. “We anticipate that Indian companies will contribute to
international chip designs that can augment the connected car business,” Kuppam said, adding that the
fund has already started scouting for investment opportunities in India.
The Intel Capital Connected Car Fund, launched in Santa Clara, California, and Karlsruhe/Feldkirchen,
Germany, will invest globally over the next four to five years in hardware, software and services
companies to promote new in-vehicle applications and enable seamless connection between vehicles
and any linked device, including mobile ones and sensors.
“The car is the ultimate mobile device,” said Staci Palmer, general manager of Intel’s Automotive
Solutions Division. “By 2014, automobiles will be among the top three fastest-growing areas for
connected devices and Internet content.” Intel already has partnerships with leading car makers,
including Hyundai Motor Co., KIA Motors, Toyota Motor Corp., BMW AG and a few Chinese
manufacturers for using its technology.