Intel to invest over $120mn to expand R&D center in Bangalore.

Even when it has announced a 5 percent lay-off in its global headcount, Intel Corp. announced the expansion of its R&D facility in Bangalore with an investment of over $120 million.

Though Intel doesn't have any plans to increase its 4,500 headcount for the foreseeable future, the new facility will consolidate its workforce spread across different sites in the India's Silicon Valley.

The Bangalore site, incidentally, is the second biggest non-manufacturing facility of Intel outside US.

Intel India president, Kumud Srinivasan, said that Intel has already invested over $2 billion in India. The new facility, being developed at a cost of $120 million, will come up on 18 acres of land and comprise of two buildings. The estimated completion date of SRR3 is early to mid 2015.