GE to set up $2.6-bn railway manufacturing facility in Bihar
The Dollar Business Bureau US-based General Electric (GE) has won a $200-million (Rs.14,656 crore) contract from the Indian Railways to set up a Diesel Locomotive Factory (DLF) in Saran, Bihar. Indian Railways will hold 26% equity in the joint venture company. It has completed the acquisition of 226 acres of land for this project. Terming the agreement “as a giant leap forward in ‘Make in India’ initiative”, Ministry of Railways said, “These modern powerful locos will be useful for growing heavy haul freight operations and will also support the mega freight operations for the upcoming dedicated freight corridors. This factory (will) lead to employment and the development of ancillaries and support industry in the economically less developed neighboring region.” As ...
GE keen to strengthen partnership with India
Source: PTI GE on Friday said it is keen to further strengthen its partnership with India and has doubled its investment in the country over the last five years. General Electric (GE) Chairman and CEO Jeff Immelt will visit India later this month, the company said in a statement. "Over the last five years, GE has doubled its investment in India and delivered approximately $3 billion in economic value. The investments have ranged from supplier development programmes to new, large infrastructure projects and manufacturing facilities," it said. "India is a growth engine for Asia, and we see huge potential for the country in the manufacturing space," Immelt said in the statement. Infrastructure is a key driver for India's growth and GE ...
