Bangalore, Aug 12 (IANS): US multinational Honeywell will soon invest Rs.1,400 crore ($228 million) to set up a new campus in this tech hub, S.R. Patil, Karnataka IT, biotech, science & technology minister, said Tuesday.
"Honeywell's investment proposal will be soon placed before the high-level committee for clearance. The new campus will be set on 5.4 acres of land in the city," Patil said at a technology event here.
The $39-billion Fortune 100 firm has already invested Rs.1,600 crore here over the last two decades, setting up its India operations, spanning technology and engineering centre, research and development facility and products and services units across industry verticals, including aerospace and defence, automation and control systems and transportation systems.
"Of the company's 22,000 engineers worldwide, about 5,000 are working in Bangalore alone," Patil said after announcing the setting up of a maiden Start-Up Warehouse in the city by the state government in partnership with the IT industry body Nasscom to incubate start-ups in the technology space.
Honeywell's India subsidiary has 13,000 employees, including 8,000 engineers, across the country with six manufacturing facilities in Chennai, Dehradun, Gurgaon, Pune and Vadodara and two technology centres in Bangalore and one each in Gurgaon in Haryana, Hyderabad in Telengana and Madurai in Tamil Nadu.
The company reported $1 billion in domestic sales and exports in calendar year 2013.