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GE Infra betting big on India
GE Infrastructure is betting big on India. It even wants to strike a deal with the Indian Railways, reports CNBC-TV18’s Abhijeet Noegy.
Global conglomerate GE Infrastructure is bullish on India. The company has readied substantial expansion plans, in the booming exploration and refining business, in the country. GE Vice Chairman, John Rice has indicated that GE Infrastructure may bid for acreages under NELP VII, as an equipment partner in consortium with an Indian operator.
“We are very gung ho about our energy business. I think oil and gas is a segment, which is growing very significantly in India. We may bid for NELP VII as well,” said John Rice, Vice Chairman, GE.
It is not just oil and gas. GE Infrastructure wants to be present across the energy spectrum in India. The company is also gearing up to expand its electricity generation business in India, especially for the rural electrification programme. Not just the energy sector, even the Indian Railways will benefit from GE's positive India outlook.
GE Infrastructure is in talks with Indian Railways to supply state of the art propulsion systems, control systems and other advanced equipment, for the locomotives that are locally produced. The bid specifications will be out in a few months.
“We are talking to the Indian Railways. We spot an opportunity there. The bid specifics will be out in a few months and the project should be on the ground in 12-18 months,” said John Rice.
GE Infrastructure is also eyeing other areas of mass transport, which are just coming up in India. The company may soon get into production of signalling equipment for bullet trains and monorails. The company believes that these big ticket programmes will ensure that the USD 2 billion India business will grow by around 15%, which compares favourably with its businesses in other markets like China. The company says its energy business alone will see about 20% growth this fiscal.