Home BusinessDuPont to invest Rs 150 crore more in Hyd unit
DuPont India, a wholly-owned subsidiary of US-based E I du Pont de Nemours and Company, plans to invest about Rs 150 crore in DuPont Knowledge Centre at Hyderabad over the next three years.
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The research and development centre would utilise the fund to strengthen innovation in agriculture, automobiles, energy, biotechnology and allied sectors, Balvinder Singh Kalsi, president (South Asia), DuPont India, told mediapersons here on Tuesday.
The company, which employs 1,500 people, has already invested over Rs 150 crore in the Hyderabad centre.
Stating that they were now focusing on emerging markets, Kalsi said the company would leverage its Hyderabad centre for making products for domestic, Asean and global markets. The Hyderabad centre employs 600 people.
Besides, it is seeing an opportunity in materials used in making photovoltaic modules. “The clean technology sector will be the major contributor to revenues once the grid parity is well established in India,” he said.
DuPont is also working on hybrid varieties of corn and rice among others. The company plans to launch 1,400 products for commercialisation in a year.
“The R&D centre will undertake science, engineering and information technology-based research for domestic and global products,” said Tom Connelly, chief innovation officer and executive vice-president, DuPont.
DuPont India revenues stood at $500 million (about Rs 2,315 crore) in 2008. The company expects an 8 per cent growth in revenues in 2009.