Latest news with #MODEC
Time of India
2 days ago
- Automotive
- Time of India
TOYO and MODEC officially open GCC in Bengaluru; set to hire 750 employees over three years
Strategic Expansion Strengthens Global Operations and Engineering Capabilities Focused on FEED, Procurement, and FPSO Project SupportOFS India is spanned across approx. 1,00,000 in Indiranagar Toyo Engineering Corporation (Toyo Japan) and MODEC, Inc. (MODEC) announced today the official opening of their Global Capability Center (GCC), TOYO MODEC OFS India Private Limited (OFS India) in Bengaluru, India. OFS India is a joint venture company of Toyo Engineering India Private Limited (Toyo India), a subsidiary of Toyo Japan and Offshore Frontier Solutions Pte. Ltd. (OFS), a MODEC Group company. The new center marks a significant milestone in the companies' global growth strategy, enhancing their ability to deliver innovation, operational excellence, and scalable services across international markets. 'Our journey to this day has been marked by a shared vision of innovation, excellence, and a commitment to creating value for our customers and stakeholders. This joint venture is a reflection of our collective belief in the power of collaboration and the limitless possibilities that arise when we combine our strengths and expertise,' said Eiji Hosoi, President & CEO, Toyo Japan. Strategically located in the heart of Bengaluru—India's Silicon Valley—the GCC is designed to nurture a collaborative, high-performance culture with a focus on innovation, sustainability, and continuous improvement. 'By establishing a presence here, we are embracing an environment that encourages innovation, agility, and collaboration—qualities essential to meeting the increasingly complex and sophisticated needs of our FPSO projects. This will help us scale with speed, maintain execution quality, and deliver smarter, more efficient solutions to our global clients,' said Hirohiko Miyata, President & CEO, MODEC. Occupying approximately 100,000 sq ft on the 7th floor of Godrej Centre Indiranagar, Bengaluru, the GCC is set to create numerous high-value job opportunities in engineering, procurement and comprehensive support for Floating Production Storage and Offloading (FPSO) projects. OFS India currently employs nearly 200 Indian professionals, with plans to expand its local workforce to 750 within the next three years. The opening ceremony was officiated by His Excellency Mr Nakane Tsutomu, Consul General of Japan in Bengaluru, who welcomed TOYO and MODEC's investment as a testament to the value of India's capabilities and global outlook. He said, 'Japan and India's long term economic ties have continued to flourish across sectors such as infrastructure, technology and manufacturing. The establishment of OFS has added a feather to the cap of Japan-Karnataka collaborations in the niche field of oil production and offshore industry. Bengaluru in particular, stands as a symbol of India's technological prowess, digital expertise and global outlook. It is the most coveted location for GCCs in India, hosting some of the world's best companies. A large number of Japanese GCCs are expanding their operation in Bengaluru, signaling a new era of cooperation between Japan and India. Bengaluru can also provide an abundance of engineers with expertise in oil production facilities. With this center, OFS India will create valuable employment opportunities, support the growth of local industries, and drive offshore energy projects.' The event was attended by senior leaders from TOYO and MODEC's global and regional teams, along with industry guests, partners, and employees.
Entrepreneur
4 days ago
- Business
- Entrepreneur
Japanese Firms Toyo and MODEC to Hire 750 People in its New GCC in Bengaluru
The new centre's launch is part of the companies' global growth strategy, enhancing their ability to deliver innovation, operational excellence, and scalable services across international markets. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. As India continues to be a hotbed for tech and innovation, Toyo Engineering Corporation (Toyo Japan) and MODEC, Inc. (MODEC) has officially launched their global capability Center (GCC), TOYO MODEC OFS India Private Limited (OFS India) in Bengaluru, India. The GCC spread across approx. 1,00,000 is set to hire 750 employees over the next three years. The roles will be across functions like engineering, procurement and comprehensive support for Floating Production Storage and Offloading (FPSO) projects. OFS India is a joint venture company of Toyo Engineering India Private Limited (Toyo India), a subsidiary of Toyo Japan and Offshore Frontier Solutions Pte. Ltd. (OFS), a MODEC Group company. The new centre's launch is part of the companies' global growth strategy, enhancing their ability to deliver innovation, operational excellence, and scalable services across international markets. "Our journey to this day has been marked by a shared vision of innovation, excellence, and a commitment to creating value for our customers and stakeholders. This joint venture is a reflection of our collective belief in the power of collaboration and the limitless possibilities that arise when we combine our strengths and expertise," said Eiji Hosoi, President and CEO, Toyo Japan. "By establishing a presence here, we are embracing an environment that encourages innovation, agility, and collaboration—qualities essential to meeting the increasingly complex and sophisticated needs of our FPSO projects. This will help us scale with speed, maintain execution quality, and deliver smarter, more efficient solutions to our global clients," said Hirohiko Miyata, President and CEO, MODEC. According to an EY report, it is estimated that the domestic GCC market size will reach USD 110 billion by the year 2030, led by software exports, which remains a key component of India's service exports. It is predicted that by 2030, India will have 2,400 GCCs and that number can potentially increase to 2,550 as India emerges as the world's technology and services hub. "A large number of Japanese GCCs are expanding their operation in Bengaluru, signaling a new era of cooperation between Japan and India. Bengaluru can also provide an abundance of engineers with expertise in oil production facilities. With this center, OFS India will create valuable employment opportunities, support the growth of local industries, and drive offshore energy projects," said Nakane Tsutomu, Consul General of Japan in Bengaluru.
United News of India
6 days ago
- Automotive
- United News of India
Ahmedabad plane crash ;HDFC Life Simplifies Claim Submission Process for Affected Families
TOYO, MODEC inaugurate Global Capability Centre in Bengaluru 14 Jun 2025 | 7:45 AM Bengaluru, Jun 13 (UNI) Toyo Engineering Corporation (Toyo Japan) and MODEC, Inc (MODEC) on Friday announced the inauguration of their joint Global Capability Centre (GCC), TOYO MODEC OFS India Private Limited (OFS India) here, marking a key milestone in their global expansion and innovation strategy. see more.. EEPC India holds open house session on India-US bilateral trade 14 Jun 2025 | 7:31 AM New Delhi, June 13 (UNI) EEPC India, the country's apex engineering exports promotion body, on Friday held an Open House Session on the India-US Bilateral Trade Agreement (BTA) here in which participating members shared that buyers in the US are delaying orders due to policy uncertainty, making it hard for businesses to plan and grow. see more.. Ahmedabad plane crash ;HDFC Life Simplifies Claim Submission Process for Affected Families 14 Jun 2025 | 12:46 AM Mumbai, June 13 (UNI) In order to provide prompt assistance to families impacted by the recent airplane tragedy in Ahmedabad, HDFC Life has simplified its claim submission process according to a statement issued by company on Friday. see more.. Nasscom urges Karnataka to give interim relief for bike taxis 13 Jun 2025 | 9:02 PM Bengaluru, Jun 13 (UNI) The National Association of Software and Service Companies (NASSCOM) on Friday submitted a formal representation to Karnataka Transport Minister Ramalinga Reddy, seeking immediate relief and a regulatory framework for bike taxi operations in the state. see more.. Telangana: Flipkart and WE Hub host a workshop to empower women entrepreneurs through e-commerce 13 Jun 2025 | 7:18 PM Hyderabad, June 13 (UNI) Flipkart, India's homegrown e-commerce marketplace, collaborated with WE Hub, a Government of Telangana initiative, hosted a dedicated workshop to empower women entrepreneurs with the insights and tools needed to scale their business through e-commerce. see more..
New Indian Express
13-06-2025
- Business
- New Indian Express
Toyo Japan and MODEC open GCC centre in Bengaluru; to hire 750 employees
BENGALURU: Many multinational companies are now setting up Global Capability Centres (GCCs) in India and the recent one to join the list is Toyo Engineering Corporation (Toyo Japan) and MODEC. On Friday, they opened a GCC centre in Bengaluru. The centre will focus on high-value services including Front-End Engineering Design (FEED), Procurement, and FPSO Project Support. Officials said they are planning to increase the workforce from 200 professionals currently to 750 employees over the next three years. Hirohiko Miyata, President and CEO, MODEC, said, "Establishing a GCC in Bengaluru enables us to deliver smarter, more efficient solutions at scale, aligned with the increasingly complex demands of global FPSO projects." Nakane Tsutomu, Consul General of Japan in Bengaluru, said Bengaluru continues to be a strategic hub for Japanese GCCs, driven by its digital excellence and engineering talent. With this GCC, the company aims to enhance operational agility and execution quality across global projects. Though GCCs are creating several job opportunities, attrition is also a growing concern currently. Recently in its study, HR solutions provider CIEL HR revealed that 51% of GCCs in India cite talent retention as their top challenge, amid a sharp rise in attrition, job-switching intent, and employee disengagement. With demand for niche skills like AI, Machine Learning, and Cloud Computing creating a surge in the need for specialised talent, organisations are facing intense competition to attract and retain top professionals, making it increasingly difficult for GCCs to hold on to their talent. Aditya Narayan Mishra, Managing Director and CEO of CIEL HR, said, "India hosts over 1,700 GCCs, nearly 50% of all GCCs worldwide, highlighting the country's pivotal role in global innovation and high-value delivery. Over time, GCCs have transformed from cost-efficiency centres into strategic engines for their respective parent entities, and at the same time, they drive economic growth, job creation, and regional development for India." However, he added rising attrition and talent mobility demand a decisive shift from transactional approaches to holistic employee engagement.
United News of India
13-06-2025
- Automotive
- United News of India
TOYO, MODEC inaugurate Global Capability Centre in Bengaluru
Bengaluru, Jun 13 (UNI) Toyo Engineering Corporation (Toyo Japan) and MODEC, Inc (MODEC) on Friday announced the inauguration of their joint Global Capability Centre (GCC), TOYO MODEC OFS India Private Limited (OFS India) here, marking a key milestone in their global expansion and innovation strategy. OFS India is a joint venture between Toyo Engineering India Private Limited (Toyo India), a subsidiary of Toyo Japan, and Offshore Frontier Solutions Pte. Ltd. (OFS), part of the MODEC Group. The newly inaugurated GCC is located in Godrej Centre and will focus on engineering and procurement services for Floating Production Storage and Offloading (FPSO) projects. "This joint venture is a reflection of our belief in the power of collaboration and the possibilities that arise when we combine our strengths," said Eiji Hosoi, President & CEO of Toyo Japan. He added that the venture aims to deliver innovation and value to global customers. Strategically located in Bengaluru, often dubbed India's Silicon Valley, the centre spans approximately 100,000 sq ft and currently employs around 200 Indian professionals, with plans to scale up to 750 over the next three years. "By establishing a presence here, we are embracing an environment that encourages innovation and agility, critical for the complexity of our FPSO projects," said Hirohiko Miyata, President & CEO, MODEC. The inauguration ceremony was graced by His Excellency Nakane Tsutomu, Consul General of Japan in Bengaluru, who lauded the investment as a symbol of the deepening economic ties between Japan and India. "Bengaluru stands as a symbol of India's technological strength and global orientation. The establishment of OFS India strengthens Indo-Japanese cooperation in the niche domain of offshore oil production," he said. The GCC is expected to create numerous high-value job opportunities and contribute to the growth of local industries by supporting offshore energy projects with advanced technological solutions. Senior executives from Toyo and MODEC, industry partners, and employees attended the event. UNI BDN GNK
