BEIJING, May 19, 2008 (AsiaPulse via COMTEX) -- -- German electric appliances giant, Bosch is set to found a research and development (R&D) headquarters in east China's Shanghai at a cost of 1.3 billion yuan (US$186 million).
Construction of The R&D headquarters building in the Hongqiao Linkong Economic Park, has already begun and is expected to be completed by 2010.
Covering an area of 80,000 square meters, the building will be used as a center of Bosch (China) for office use, R&D and training.
An official with Bosch disclosed that it plans to make investment about 9.2 billion yuan in China in the 2008-2010 period following the previous investment of 10.8 billion yuan in China.
Bosch's combined sales in China reached 20 billion yuan in 2007.