New Delhi: GE India, a part of the US-based global conglomerate General Electric Co (GE), plans to infuse about Rs 11 billion to establish a new manufacturing facility at Chakan, Pune, to develop products for the energy sector, the company said in a statement Friday.
"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," GE said in the statement.
The company signed a memorandum of understanding (MoU) with the state government of Maharashtra for the proposed multi-modal, large-scale facility, which will be set up at Maharashtra Industrial Development Corp (MIDC) Industrial Park at Chakan, Phase II, Pune.
"We are confident that such initiatives will strengthen the manufacturing sector in India and enhance growth," Maharashtra's Chief Minister Prithviraj Chavan said.
"Our new manufacturing facility aligns well with the Government's objective of strengthening manufacturing and overall infrastructure of the country," GE India's President and Chief Executive Officer John Flannery said in the statement.
The facility will provide assembly and production support for GE's various businesses that require local manufacturing capability in India, it added.
General Electric has interests in aviation, healthcare, energy, consumer electronics, oil & gas and water, among other segments in India.