GE Oil and Gas today confirmed a $600million financial injection for its operations in Italy.
The firm today revealed the investment package, dubbed Galileo, at its annual meeting.
Chairman of GE, Jeff Immelt, said: “GE has been in Italy for nearly 100 years and today’s milestone underlines our strong ongoing commitment to investing and growing our business.
“Today’s MOU provides a framework to further enhance the skills of the local workforce and boost research and development and cutting edge oil and gas technology made in Italy for the world.”
The centre will support 500 positions including staff from GE, universities, research laboratories and a small selection of SMEs.