French-American oil and gas major TechnipFMC and Houston-based consulting and financial firm AlliantGroup have announced their plans to build and expand operations in Hyderabad
Posted Date – Sunday, 5/21/23 at 12:30pm
Photo: Twitter
Hyderabad: French-American oil and gas giant TechnipFMC and Houston-based consulting and financial firm AlliantGroup have announced plans to build and expand operations in the state’s capital, a pair of initiatives that will create about 13,500 jobs over the next few years.
The announcements came after top executives from both companies met IT and Industry Minister KT Rama Rao and his team, who are currently visiting the US. TechnipFMC, a global leader in conventional and renewable energy industries, has selected Hyderabad as its global base of operations and will establish its software global delivery center and precision engineering manufacturing facility.
The software global delivery and competence center will employ 3,500 people, while a manufacturing facility specializing in precision engineering will create 1,000 jobs over the next five years. TechnipFMC will invest over USD 150 million (Rs 12.5 crore) in the Hyderabad factory in the initial phase with an export value of USD 650 million (Rs 54 billion).
This was announced after the Minister met Anders Dahl, Senior Vice President, TechnipFMC One Engineering, and Housila Tiwari, Managing Director and Country Head, TechnipFMC India, at the Houston campus. TechnipFMC’s IT and engineering delivery center will occupy approximately 250,000 square feet, and a state-of-the-art precision engineering manufacturing facility in Hyderabad will occupy 150,000 square feet. According to an official statement, the facility will create jobs primarily in the field of professional engineering talent, with a significant number of indirect jobs in addition to 3,500 direct jobs.
As for AlliantGroup, the Houston-based consulting and financial services giant will expand its existing operations in Hyderabad to create 9,000 new jobs in the banking, financial services and insurance sectors here. The firm, known for its expertise in taxation, accounting and auditing services, announced its ambitious plans after CEO Dhaval Jadav met Rama Rao at the company’s Houston headquarters. With 1,000 employees in its 150,000 sq. ft. office in Hyderabad, AlliantGroup has been providing audit, tax, consulting and accounting services since 2020.
Delighted by the news, Rama Rao said it would be a “great opportunity for young people” in taxation, accounting, auditing services and core IT skills. “Alliant’s decision once again demonstrates the unwavering trust and confidence of the BFSI industry in the city,” he said.
The Minister was accompanied by Principal Secretary (IT and Industry) Jayesh Ranjan, Special Secretary (Investment Promotion and NRI Affairs) E Vishnu Vardhan Reddy and Chief Relations Officer Amarnath Reddy Atmakuri.
