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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: wanna_bmw who wrote (170303)	8/29/2002 8:33:48 AM
From: Proud_Infidel	Respond to of 186894

Report: Intel to Invest $130 Million in India Thursday August 29, 5:53 am ET NEW DELHI (Reuters) - Intel Corp, the world's No 1 chipmaker, will invest $130 million in India and more than triple the number of engineers at its local operations in the next three to five years, the Press Trust of India (PTI) said on Thursday. Intel's three-year-old software development center in India's technology capital, Bangalore, designs and develops software to power chips that drive personal computers and high-end network computers for Internet-based applications. "I am happy to announce that Intel has decided to invest $130 million for the expansion of its operations in India," PTI quoted Communications and Information Technology Minister Pramod Mahajan as saying after meeting Intel chief executive Craig Barrett. Barrett is in India on a two-day trip as part of an Asian tour. The news agency said Intel would increase the number of engineers at its Bangalore center, the chipmaker's largest non-manufacturing site outside the United States, to 3,000 from 900 over the next three to five years. An Intel Asia spokeswoman confirmed the minister made the statement but said she could not provide details yet. Several global technology giants including Microsoft Corp (NasdaqNM:MSFT - News), IBM (NYSE:IBM - News) and Oracle (NasdaqNM:ORCL - News) have set up software development centers in India to tap the country's large pool of low-cost and high-quality engineers. Barrett said in a statement Intel would set up a new design team in India to engage in high-end microprocessor design and development, its third such facility in the world. The new design team will work on "32-bit Intel architecture microprocessor design and development," he said. The company spokeswoman said the team will initially include 40 engineers and will grow to about 100-strong over time. On Tuesday, Barrett told a news conference in Malaysia he expected only a modest growth in third quarter earnings over the preceding quarter and that he could not say when the slump in corporate technology spending would end.