Chevron to Invest Rs 8,300 Crore in Bengaluru for New Innovation Centre
On August 25, Chevron, a global leader in energy solutions, announced a significant investment of Rs 8,300 crore to establish its Engineering and Innovation Centre of Excellence (ENGINE) in Bengaluru, Karnataka.
High-Profile Meeting
The announcement was made during a high-profile meeting attended by:
- MB Patil, Minister for Large and Medium Industries and Infrastructure Development
- Dr Selvakumar S, IAS, Principal Secretary, Department of Commerce and Industries
- Gunjan Krishna, IAS, Commissioner for Industrial Development and Director, Department of Commerce and Industries
- Dr Akshay Sahni, Country Head of Chevron India
- Kate Callaghan, General Manager, Corporate Affairs, Chevron International Exploration and Production
Statements from Key Figures
Minister MB Patil stated, “Karnataka has been consistently leading the way in promoting economic growth and development. The collaboration between the state government and Chevron company in implementing this Rs 8,300 crore investment is a clear indication of the significant progress in engineering and innovation in Karnataka.”
Dr Akshay Sahni, Country Head of Chevron India, shared, “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.”
Job Creation and Technological Progress
The centre aims to hire 600 engineers by 2025 in engineering and digital services to accelerate energy system technology innovations. 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.
Future Prospects
The Chevron Centre of Excellence (ENGINE) will create significant employment opportunities for local professionals and contribute to the production of clean, low-carbon fuels. The establishment of this centre aligns with the Government of Karnataka’s priorities for technology, innovation, and skill development.
Minister MB Patil emphasized that this investment reflects the importance of Karnataka as a key destination for global companies and is a testament to the state government’s commitment to promoting industry, innovation, and technology.
Doubts Revealed
Chevron -: Chevron is a big company from the USA that works with oil and gas. They help get energy from the ground and make it useful for us.
Rs 8,300 crore -: Rs 8,300 crore is a very large amount of money. In simpler terms, it is 83 billion rupees.
Bengaluru -: Bengaluru is a big city in India, known for its technology companies and innovation. It is often called the ‘Silicon Valley of India’.
Innovation Centre -: An Innovation Centre is a place where new ideas and technologies are developed. People work together to create new things that can help solve problems.
Engineering and Innovation Centre of Excellence (ENGINE) -: ENGINE is a special place where engineers will work on new and smart ways to create energy that is good for the environment and not too expensive.
Karnataka’s Minister for Large and Medium Industries, MB Patil -: MB Patil is a leader in Karnataka, a state in India. He helps make decisions about big and medium-sized businesses in the state.
600 engineers by 2025 -: Chevron plans to hire 600 people who are good at engineering by the year 2025. These engineers will work on new energy projects.
clean, affordable energy -: Clean energy is energy that does not pollute the environment, like solar or wind power. Affordable means it does not cost too much money.
hub for global companies and innovation -: A hub is a central place where many activities happen. Bengaluru is a hub because many big companies from around the world come here to create new ideas and technologies.