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GE India, the subsidiary of US-based industrial giant General Electric, will invest around Rs 700 crore to set up a multi-product manufacturing facility at Chakan near Pune.
At the proposed site, the company, among other things, plans to make healthcare equipment, gas engines and also assemble and test wind turbines. GE's investment at Chakan will get the status of a ‘Mega Project' under the Maharashtra Government's industrial policy.
The company is in an advanced stage of negotiations with the Maharashtra State Industrial Development Corporation for acquiring about 70 acres, a State Government official on condition of anonymity.
“Usually such projects require about 300 acres. But given the paucity of land at Chakan, GE has to make do with 70 acres,” the official said. Confirming the development, the Maharashtra Industries Secretary, Mr A. Khan, said the State Government was in talks with the company for setting up the facility.
Given the scale of India operations, the company should have a large footprint in the State. However, Mr Khan did not share additional details about the deal.
In an e-mail statement, a GE India spokesperson confirmed that the company is planning to invest in a local manufacturing facility. However, the site selection process is still under way, the spokesperson said.
In March, the GE Chairman, Mr Jeffrey Immelt, had said that the company planned an investment of up to $200 million in India for setting up manufacturing facilities.
In November 2010, GE had signed a deal worth $750 million with Reliance Power for supply of turbine equipment for the Samalkot power plant in Andhra Pradesh.
GE has also formed a joint venture with Triveni Engineering & Industries to make steam turbines.
The Aeronautical Development Agency, Bangalore, has selected GE for supply of 99 F414 GE fighter jet engines to power the Mk II version of the Tejas Light Combat Aircraft for the Indian Air Force.
GE has been in India since 1902. Currently, it has a headcount of 14,000. It has presence in major sectors such as transportation, energy, healthcare and financial services.
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