Bayer to Invest Rs 200 Crore in New R&D Centre Near Bengaluru
Bengaluru: German multinational Bayer Science and Innovation will invest Rs 200 crore to establish a state-of-the-art R&D centre in manufacturing facility near Bengaluru.
The company signed a Memorandum of Understanding (MoU) with the Karnataka government on Friday in the presence of Large and Medium Industries Minister M B Patil.
The MoU was signed by Industries Department Principal Secretary S Selvakumar and Bayer Chief Financial Officer Vineet Jindal.
Speaking on the occasion, Minister Patil said the company would invest the amount in phases over the next seven years, generating around 220 employment opportunities.
Discussions were held with senior representatives of the company in Amsterdam during his recent visit to the Netherlands to attract investments to Karnataka, he said, according to a release.
Bayer, which manufactures products such as fertilisers, pesticides and fungicides, is keen to take up the project at the earliest.
The company intends to perform the groundbreaking ceremony for the project before the Global Investors' Meet scheduled for April next year and is keen to commence manufacturing activities without delay, Patil said.
Bayer already operates a Service and Innovation Hub in Bengaluru and a Crop Testing Centre in Chamarajanagar.
The company has been present in India for 125 years and employs around 11,000 people across the country. It currently operates seven manufacturing facilities and three Global Engineering Centres (GECs) in India, the minister added.
