DuPont to open $20M India biotech plant |
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Wed, 14 Mar 2007 18:22
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NEW YORK (AP) - DuPont said Wednesday it will open its first non-U.S. plant biotechnology research center, a $20 million facility in Hyderabad, India.The DuPont Knowledge Center is part of the company's $100 million reinvestment plan and will focus on biotechnology and plant trait discovery to aid in making advanced seed products. These products will be used to help solve global food production, animal feed and energy issues, the company said in a statement.DuPont currently has 20 crop genetics scientists working at facilities leased near the site of the Hyderabad center. It should have 100 scientists working there by the end of 2007.When completed, the new center will hold over 300 scientists and other workers.The company currently has major plant biotechnology research centers in Delaware, California and Iowa.DuPont shares declined $1.05, or 2.1 percent, to $49.29 during midday trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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DuPont plans to invest over 22.5 mln usd in new R&D centre in Hyderabad, India 