With more than 4,000 employees in the Asia-Pacific region, Engie, the French gas utility leader will relocate the regional headquarters to Singapore from its current office in Bangkok, Thailand. Engie SA plans to double its workforce in the area within the next 10 years.
The new headquarters will be ready for use by mid-2019, according to a statement released by the company. Currently, the APAC regional operations contribute to about $3 billion to the company’s global revenues.
Earlier in March, the company also announced a $58 million investment plan to create a nucleus of energy efficiency in Singapore. The reason behind moving its headquarters from Bangkok to Singapore lies in the company’s major customers. Most of the energy giant’s customers hail from the island country of Singapore and have businesses set up in the rest of the region.
“Singapore is a natural choice for us as grow our footprint in this region,” said Paul Maguire, chief executive of Engie Asia-Pacific.
Formerly GDF Suez SA and now Engie SA, is a France-based natural gas and electricity supplier. Its expertise lies in the production of electricity, distribution, supplying of gas and exploration and production of gas and oil.