In one of the largest foreign direct investments (FDIs) in country’s information technology sector, the U.S.-based oil and natural gas major ExxonMobil, is planning to set up a Business Support Centre. It is also likely to set up its first research and development centre in Asia in the city, according to sources in the government.
As part of the proposed investment plans, Bryan Milton, President of ExxonMobil Global Services Company met the Chief Minister Siddaramaiah.
A state Government statement announcing the investment, quote Mr. Milton as having said, “We are excited to add a new location to our global business support centre network, which provide services to operations in 120 countries. Bengaluru was selected among several locations in India.”
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The centre ‘which is expected to be established by December this year will provide a range of technical and business support services for its global operation. The company selected Bengaluru to set up the centre after considering Delhi, Chennai, Hyderabad and Shanghai.
According to sources, the investments would be in excess of $600 million and the centre will provide job opportunity to around 1,000 people. “The land parcel may be a government land or a private property and if all goes as per plan this will be a genuine R&D investment and not just a support centre,” added the official.
The new business support centre will be located in the IT hub of Whitefield.
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ExxonMobil affiliates currently operate facilities in Bengaluru, Gurgaon, New Delhi and Mumbai. The move from Exxon comes at a time when oil majors across the globe are looking at cost effective measure to control cost at a time when oil price are dropping sharply.
“ExxonMobil designed its global business support centre network to improve efficiency and effectiveness by centralising and integrating business processes,” added Mr. Milton.