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Boeing to invest Rs 300 cr in Chennai Engineering Center, creates over 1,100 jobs
Industry News- Jan 09,24
The formal announcement of this investment, facilitated through a Memorandum of Understanding (MoU), is expected to take place during the upcoming two-day Global Investors’ Meet in Chennai.
Boeing, a major player in the aviation industry, is gearing up to invest Rs 300 crore in its Global Engineering Capability Centre (GECC) located in the city. The formal announcement of this investment, facilitated through a Memorandum of Understanding (MoU), is expected to take place during the upcoming two-day Global Investors’ Meet in Chennai, starting this Sunday, as revealed by an anonymous government official to DT Next.
Boeing India Private, a fully-owned subsidiary of The Boeing Company, currently operates its engineering and technology capabilities centre for aerospace, aviation, and defence at the DLF IT Park in Chennai. The proposed investment is anticipated to create over 1,100 additional job opportunities, expanding the existing workforce of the centre, which presently consists of over 700 professionals engaged in high-level engineering tasks. Boeing initially entered Chennai in 2009 as Continental Data Graphics (CDG) with 150 employees.
The Chennai centre transitioned to being a wholly-owned Boeing subsidiary in the fiscal year 2019-20, marking a significant step in the global merging process. Subsequently, the Boeing Centre has been aggressively expanding its operations, enhancing its presence in the region, according to an informed source.
The engineering capability centre is currently involved in various activities, including the creation of technical publications for all Boeing aircraft, engineering support, and software development. Notably, the talent pool largely comprises individuals from Tamil Nadu, Karnataka, and Telangana, leveraging the locational advantage.
The centre had introduced a mandate to have 40% women employees a few years ago, starting from a 25% female workforce base in 2009 with an initial investment of $1.5 million. Over the years, Boeing has expanded its facility from 15,000 sq ft to at least 25,000 sq ft, according to the same source.
Ramanathan Srinivasan is reportedly leading the operations at the centre. Despite attempts to contact him, no response was received. His LinkedIn profile describes him as a visionary business executive with experience in establishing and scaling up new operations. Srinivasan joined as an engineering manager in March 2012 and has held various leadership positions since then, culminating in his current role as the site leader since January 2020, overseeing operations with 700-plus employees and yearly revenues exceeding $10 million. His profile emphasises a focus on execution excellence, value creation, managing disruptions, strategy development, and innovation in project leadership and process implementation.
Source: dtnext.in
Boeing
Chennai
Global Investors' Meet
Aerospace
Aviation
Continental Data Graphics (CDG)
Wholly-Owned Subsidiary
Ramanathan Srinivasan
Global Engineering Capability Centre
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