ABB announced that it plans to invest $40 million to build a new manufacturing facility on the company’s existing campus in Albuquerque, New Mexico.

Per a report in the Albuquerque Journal, the new site is being built on a 40-acre site near the existing ABB plant that has some 450 employees. The new plant will add 55 more jobs when it is up and running in 2024.

Ralph Donati, executive vice president and general manager for ABB’s Installation Products Division in the U.S. and Latin America, said that the project was ambitious. “We’re not just expanding, but upgrading our manufacturing capacity in Albuquerque,” Donati told the Albuquerque Journal. “The new plant will be a greenfield facility with the latest technology in processing, machine manufacturing and robotics to make it a factory for the future.”

The new plant will double ABB’s local production capacity of cable products used by electric utilities, which is the primary ABB product made in Albuquerque, Donati said.