New Delhi - US-based diversified technology and manufacturing firm Honeywell Tuesday opened its fourth technology centre in India at Gurgaon at an investment of $34 million (Rs.167.8 crore).
"This new facility will allow Honeywell to put its vast resources to work in collaboration with some of the brightest engineering minds in India," said Rajeev Gautam, president and chief executive, Honeywell UOP (erstwhile Universal Oil Products).
According to the company, the centre will primarily support Honeywell UOP's operation in developing and licensing the process technologies used in refining and producing of petrochemicals and renewable fuels.
"The centre will initially employ 40 researchers, with the total expected to grow to 170 in the next five years," the company said.
Additionally, the facility will support performance materials and technologies (PMT) to develop new low-global warming refrigerants, blowing agents and other materials.
Honeywell has been rapidly expanded its presence in India, with five manufacturing facilities with more than 12,500 employees.
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