GE unveils Rs. 1,000cr equipment

Hyderabad : The US headquarters General Electric has decided to set up a multi-specialty facility for manufacturing infrastructural equipment used in the aviation and power sectors at an investment of Rs. 1000cr. In the upcoming facility the company would initially invest Rs. 250cr but at a later stage depending on the business prospects it would be expanded up to the targeted levels employing over 3000 people, Chairman and Chief Executive Officer, Jeffrey R Immelt said.

He claimed adding that currently the company is busy in identifying the location for the facility in question, which would be finalized very shortly and after that construction would start quickly in the middle of this year. The company is keen to set up a locomotive manufacturing unit in India and has been trying this for the past decade but frustrated by the undue delay caused in the official corridors. In this connection GE along with Siemens, Bombardiar, Alstom were short listed for the Rs. 1,960cr electric locomotive projects at Madhepura in Bihar on PPP model but the bidding process was scrapped twice, he claimed.