Chevron to invest about $989 million in India, state minister says

(Reuters) - Chevron plans to invest 83 billion rupees ($989.20 million) in India’s Bengaluru, in what will be the oil and gas firm’s largest tech center outside the United States, a minister with the state government of Karnataka said late Wednesday.

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 billion-dollar investment will be spread over 5-6 years, with the company 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. 

($1 = 83.9040 Indian rupees)

(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Rashmi Aich)