General Electric has
announced that it would
invest $200 million
towards setting up an infrastructure
equipment facility. While
the company has not disclosed
the plant location, it is learnt that
GE would hire over 3,000 people
this year for the new venture.
Reports suggest that $50 million
would be initially invested in
building a manufacturing facility,
creating 3,000 new jobs. As the
business develops, the investment
could go up to $200 million.
The new facility will be multimodal
and multi-business, which
means that several businesses of
GE would share the location.
Finer details of the new project
would be announced over the
next three months, it is learnt.
Construction on the new facility,
which will have a built-up area of
4 lakh sq. ft initially, would begin
in the July-September quarter.
GE is also considering the option
of manufacturing some of the
products from its global product
lines in the manufacturing facility
in India. A decision on that is probably
three to six months away.
The expansion would also
depend on the company being
able to expand its locomotive
business in India. "Expansion of
the facility is contingent on a
couple of things we are studying
right now. One is the ability to
make components and engine
parts for the rail tender. So that
decision is concurrent with what
happens in the facility," Jeffrey
R. Immelt, Chairman, GE, was
While GE's energy business
would be the principal user of
the facility, it would be used for
health and aviation as well.