Chevron's Rs 8,300 Crore Investment in Karnataka for Innovation Centre

Chevron has invested Rs 8,300 crore to establish an Engineering and Innovation Centre of Excellence in Karnataka. The investment aims to promote economic growth, job creation, and technological advancements, with 600 engineers to be hired by 2025. The centre will focus on clean, low-carbon energy solutions.

Chevron, a leading global energy solutions provider, announced on Saturday an investment of Rs 8,300 crore to establish an Engineering and Innovation Centre of Excellence in Karnataka. The announcement was made during a high-profile meeting attended by the Karnataka Minister for Large and Medium Industries and Infrastructure Development, M B Patil, among others.

Highlighting Karnataka's prominence in fostering economic growth, Minister M B Patil stated, "The collaboration between the state government and Chevron in implementing this Rs 8,300 crore investment underscores Karnataka's progress in engineering and innovation. The state remains committed to driving innovation, economic growth, and job creation."

Chevron India's Country Head, Akshay Sahni, outlined the vision for the new centre, emphasizing its role in leveraging India's exceptional talent and Chevron's global resources to offer affordable, reliable clean energy. According to a statement from the Minister's office, the centre aims to hire 600 engineers by 2025, focusing on engineering and digital services to accelerate energy technology innovations. Karnataka's progressive policies have created an enabling environment for such advancements.

Patil noted Bengaluru's status as home to over 500 Global Competence Centres (GCCs), including those in finance, healthcare, retail, and manufacturing. The Chevron Centre of Excellence (ENGINE) will offer significant employment opportunities and support global energy demands with clean, low-carbon fuels.

The minister added that the Chevron team in Bengaluru will manage complex global operations and energy projects in collaboration with international stakeholders. The centre aligns with Karnataka's priorities in technology, innovation, and skill development, solidifying the state's importance as a preferred destination for global companies.

(With inputs from agencies.)