Chevron, a global leader in providing energy solutions, announced on August 23 that it would invest Rs 8,300 crore to set up its Engineering and Innovation Center of Excellence (ENGINE) in Bengaluru.
The investment was announced during a high-profile meeting attended by MB Patil, the Minister for Large and Medium Industries and Infrastructure Development, along with other senior officials.
Patil said, "Karnataka has been consistently leading the way in promoting economic growth and development. The collaboration between the state government and Chevron company in implementing Rs 8,300 crore investment is a clear indication of the significant progress in engineering and innovation in Karnataka. The state government is committed to promoting innovation, economic growth and job creation."
Dr Akshay Sahni, Country Head of Chevron India, shared the company’s vision for the new centre, and said, “This centre will provide an opportunity for India's exceptional talent to work with the resources and expertise of our global network to provide affordable, reliable clean energy.”
ENGINE will hire 600 engineers by 2025 in engineering and digital services to accelerate energy system technology innovations.
Elaborating on how the state has been promoting technological progress through progressive policies that have created an enabling environment for innovation, Patil said that Bengaluru is already home to more than 500 Global Competence Centres (GCCs) and accounts for more than 30 percent of India's GCCs, including finance, healthcare, retail, manufacturing and other sectors.
ENGINE will allow local professionals to respond to the challenge of meeting current global energy demands and contribute to the production of clean, low-carbon fuels in the future. Patil said that the Chevron team will execute complex global operations and energy projects in collaboration with international stakeholders.
Notably, the establishment of ENGINE in Bengaluru will be in line with the Government of Karnataka's priorities for technology, innovation and skill development. This investment reflects the importance of Karnataka as an important destination for global companies. The minister also said that this is a testimony to the unwavering commitment of the Karnataka government to promote industry, innovation and technology in the development of the state.
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