This story was originally published on Benzinga India.

The US-based energy powerhouse Chevron (NYSE: CVX) has announced that it will invest $1 billion to build a technology center in the Indian city of Bengaluru.

What happened: Chevron on August 20 unveiled its plan to set up the Chevron Engineering and Innovation Excellence Center (ENGINE) in Bengaluru. The company said the move marks a critical milestone in its commitment to India and will play a key role in Chevron’s global activities and projects.

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According to forecasts, the technology location is expected to create around 600 jobs by 2025 and will be expanded further in the future.

Chevron is also looking for high-caliber talent with specialized skills to support enterprise-wide projects spanning both technical and digital services.

This announcement comes at a time when global centres of excellence are gaining importance and are expected to contribute 3.5 per cent to India’s economic growth by 2030.

Akshay Sahni, incoming Country Head of Chevron India, shared his excitement about strengthening ties with India’s dynamic tech community through the ENGINE center.

Read more: Indian Defense Minister Rajnath Singh visits US to strengthen defense ties

Disclaimer: Artificial intelligence was used as an additional tool in writing this story.

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This article “Energy giant Chevron to invest $1 billion in India’s tech hub Bengaluru, creating 600 new jobs” originally appeared on Benzinga.com

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