GE to invest $200 mn to build pune unit

Bangalore: US conglomerate General Electric (GE) will invest $200 million (Rs 980 crore) to build an integrated multi-product manufacturing facility in Pune.
“Our new integrated manufacturing facility is coming up near Pune on a 68-acre plot for making a wide portfolio of products for the Indian market,” GE chairman, Jeffrey R Immelt, said here on Monday.
The facility will create 2,000 jobs and help to drive localisation of GE’s products. It will initially have 450,000 sq ft of space, which can go up to 1 million sq ft.
Immelt said GE saw robust demand for its products worldwide and he did not expect any big impact of the double-dip recession on the firm’s business.
“At a time of global volatility, we still see robust demand for our infrastructure products and still feel quite good about the prospects on a global basis for the industry we are in, like infrastructure and financial services. The growth of infrastructure sector would continue to be robust. Aviation, energy and transportation are quite healthy in the US market,” he said.
27/09/11 Business Standard

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Categories: Foreign Sep 2011, New Sep 2011