General Electric Company : General Electric to Invest $200 Million for New India Facility
06/15/2012| 09:20am US/Eastern
By Saurabh Chaturvedi
NEW DELHI--The Indian unit of General Electric Co. (GE) said Friday it will invest $200 million to set up a facility in the South Asian nation to manufacture products related to the energy sector.
The U.S.-based conglomerate has signed an initial agreement with the western Maharashtra state to build the plant in the city of Pune, where it already runs a plant to assemble wind turbines.
The new facility will become operational by 2013, it said in a statement.
"The facility, to begin with, will focus on energy products and technologies driven by the industry needs for power generation, transmission and distribution as well as measurement and control," it said.
The plant would also assemble the company's eco-friendly products such as hybrid batteries and bio-gas power-generation technologies.
John Flannery, president and chief executive of GE India, said the facility will help the company expand its technology and manufacturing capabilities in India.
GE India also operates two factories in the southern city of Bangalore where it manufactures equipment for the industrial and healthcare sectors.
Write to Saurabh Chaturvedi at firstname.lastname@example.org