US-based energy major Chevron is planning to invest $989 million in India’s Bengaluru for setting up its tech center, Reuters news report said.
Chevron, according to its annual report for 2023, estimates that 2024 Capex will be approximately $16 billion. Chevron’s investments in technology businesses and other corporate operations in 2024 are projected to be about $0.5 billion.
Chevron’s proposed new research and development hub will create 600 engineering jobs, Karnataka Commerce & Industries, and Infrastructure Minister MB Patil said in a post on social media platform X.
The investment will be spread over 5-6 years. Chevron is aiming to hire over 600 employees by the end of 2025, Akshay Sahni, the incoming head of Chevron India, said in an interview with the Times of India published on Wednesday.
Balaji Krishnamurthy is the Vice President of Chevron Technical Center since 2024. He is responsible for overseeing technical services in support of Chevron’s global operations, the development and scaling of innovative technology solutions to support the current and future energy system, as well as the application of engineering standards.
