GE Lights Maharashtra's Hope With $200 Million Promise

CM Prithviraj Chavan and GE officials inspecting the plan of the proposed plant at Chakan.

US major General Electric on Friday announced that it will invest $ 200 million (INR 1,100 crores) in Maharashtra, India to set up a new manufacturing facility in Pune for developing products for the energy sector. A Memorandum of Understanding (MoU)was signed between the state government and GE at Chakan.

The MoU was signed at Hotel Hyatt Regency in the presence of Prithviraj Chavan, the Chief Minister of Maharashtra. Expressing his pleasure, Chavan said the planned project will provide employment to over two thousand people. "We are confident that such initiatives will strengthen the manufacturing sector in India and enhance growth. 21st century is about competition & we want to increase manufacturing in the state," he said.

In a statement issued by GE India, John Flannery, President & CEO, said,

"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.

GE already has a wind turbine assembly unit in Pune. The proposed plant will come up at 68 acre of land and will manufacture the energy products as well as environment friendly products.