Minister for Industries, IT and Municipal Administration K.T. Rama Rao on Thursday inaugurated Thermo Fisher Scientific’s India Engineering Centre (IEC), its new R&D and engineering facility here.
The company plans to invest about $15 million on R&D annually at the IEC in the city, and is expected to employ over 450 engineers and vendor partners at the 42,000 square feet centre throughout the value chain. The facility includes an engineering lab that would support new product development for laboratory and analytical solutions for Thermo Fisher’s global sites.
“Over the years, Telangana has been the leading hub for life sciences not just in India but in Asia as well, presenting unlimited opportunities and highlighting the region as a preferred destination for investment and expansion,” Mr. Rama Rao said at the inaugural. The State had made sure that there was availability of ample skilled workforce, favourable policies and best-in-class infrastructure to help companies set up facilities that meet global standards, he stated.
