Automotive ancillary company Bosch India plans to invest INR 140 crore in India to set up research center at the Indian Institute of Sciences. The German major will also invest INR 2,500 crore over the next three years for capacity expansion.
The company in a press statement said that the investment would include capacity augmentation, business portfolio diversification and research and development. Of this investment, Bosch Ltd the flagship company of the Bosch Group will utilize INR 1,300 crore.
Bosch will set up a new electrical drives manufacturing facility in Chennai that will start production by 2012 and cater to the demand in the Indian market. The company will increase its workforce strength to 28,000 from 22,500 by 2013
Sourced from PTI
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