GE India on Friday said it would invest nearly Rs 1,100 crore (USD 200 million) to set up a new manufacturing facility in Pune for developing products for the energy sector.
New Delhi: GE India on Friday said it would invest nearly Rs 1,100 crore (USD 200 million) to set up a new manufacturing facility in Pune for developing products for the energy sector.
"GE India announced that its new manufacturing unit would develop localised products and solutions for the energy sector in its first phase of operation commencing in 2013," the company said in a statement.
The Government of Maharashtra and GE have signed an MoU for the upcoming manufacturing site which is located at MIDC Industrial Park at Chakan, Phase II, Pune, it said.
"We are confident that such initiatives will strengthen the manufacturing sector in India and enhance growth," Prithviraj Chavan, Chief Minister of Maharashtra said.
"Our new manufacturing facility aligns well with the Government's objective of strengthening manufacturing and overall infrastructure of the country," John Flannery, President & CEO, GE India said in the statement.
GE, which already has a wind turbine assembly unit in Pune, will invest a cumulative amount of USD 200 million in building this multi-modal, large scale facility, the statement added.
The focus on manufacturing is in line with the need for localised products and solutions suited to Indian customers across GE?s various businesses present in the country.
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.
The site will enable assembly and production support for any GE business that needs local manufacturing capability in India, it further added.