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Mumbai: Intel Corp. will invest $120 million in India through its existing research and development infrastructure in Bangalore, the chip maker said on Wednesday.

“The India centre makes significant contributions to the entire product portfolio offered by Intel," said Kumud Srinivasan, president, Intel India. “Our new capacity in Bangalore will give us the right resources to make a meaningful difference as the company moves into exciting areas like the Internet of things. This move reinforces Intel’s commitment to invest and grow in India."

Intel’s upcoming facility will be a global centre of excellence for chip design, the company said in a statement. Intel already has a campus in Bangalore comprising two buildings—SRR1 and SRR2. The new building, SRR3, will cover 18 acres and comprise two more buildings. The estimated completion date for SRR3 is early to mid-2015.

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