Carrier to invest Rs 200 cr in India in next three years

New Delhi, Nov 29 (UNI) Targeting the country's growing air conditioning and refrigeration market, Carrier Corp today said it will invest about Rs 200 crore during next three years to build a reasearch&development (R&D) centre in Gurgaon and for developing new products.

''We will invest about Rs 200 crore on building R&D centre and bringing the latest technology along with energy-efficient products,'' Carrier's President Geraud Darnis told reporters here.

The R&D centre, with 100 new engineers, will open next year, Mr Darnis informed.

Carrier, a subsidiary of US-based United Technologies Corporation, also plans to launch 15-20 new products in the market by next year.

'' We will expand our manufacturing volume to three times by 2010,'' Mr Darnis added.

Registering a growth of 30 per cent last year, the company is eyeing a growth of 35 per cent and a revenue of 200 million dollars this year.

''Our target for revenue is 500 million dollars in 2010, which will be scaled up to 600 million dollars for the year 2011,'' Mr Darnis said.

The company currently has a network of more than 500 sales and service dealers across India and some 800 retail outlets.

UNI