After four years since its inception, Project Fusion, Oracle’s next generation suite of enterprise applications will finally be ready to enterprises in 2010.

At the closing keynote of this year’s Openworld conference which saw about 50,000 attendees throng the city of San Francisco, Oracle CEO Larry Ellison said the code base for the Fusion applications is ready, and customers have begun testing the products.

According to Ellison, Oracle will continue to support J.D Edwards and PeopleSoft applications under its Applications Unlimited program, along with its lifetime support policy.

The first version of the brand new Fusion Applications, built from the ground-up with its own technologies and those acquired from other companies, will include Financial Management, Human Capital Management, Sales and Marketing, Supply Chain Management, Project Portfolio Management, Procurement Management as well as Governance, Risk and Compliance. …

Techgoondu will be livecasting Oracle CEO Larry Ellison’s closing keynote roday around 6.30am SGT. Ellison is expected to share more details on the state of technology, right after an address by Infosys CEO S. Gopalakrishnan. Stay tuned!

Update: If you didn’t manage to catch the livecast, we have a recorded video of Ellison’s closing keynote, featuring a guest appearance by California governor Arnold Schwarzenegger who hailed technology as the solution to the climate issues facing us today.