GE to set up $50 million multi-modal manufacturing facility
17 Sep 2010
General Electric (GE) plans to invest up to $50 million for setting up a multi-modal manufacturing facility to cater to its businesses in India. The company said it also would hire more people at its technology centres in the country.
The company expects the plant location to be finalised by the year-end and deployment to start by 2011.
GE India president and chief executive officer John L Flannery said the company was currently making a final analysis of a much larger manufacturing facility in India to allow several of its businesses to share a common facility. He added that the outlay on the plant would be between $10 million and $50 million.
The company's revenues from India operations stood at $1.6 billion in 2009. It currently has a manufacturing facility in Bangalore for its healthcare business.
The company is also in the process of expanding its workforce at its technology centres in India from the current 5,000 to around 8,000, in three years, Flannery said.
Meanwhile, GE's flagship technology centre in Bangalore, the first and largest multidisciplinary research and development centre outside the US, has completed its 10th anniversary today.