GE India is setting up a new manufacturing facility at Chakan, in Maharashtra's Pune district, in which it will invest over Rs 1,000 crore ($200 million).
The signing of a memorandum of understanding today with the Maharashtra government, which has granted it ‘mega project' status, was followed by a ground-breaking ceremony at the site.
Spread over 68 acres, the multimodal plant at Pune, GE's first of its kind, is scheduled to begin manufacturing in the third quarter of 2013, Mr John Rice, Vice-Chairman, GE, said.
The focus will be on developing localised products and solutions for the energy sector in the first phase of operation.
Wind turbine plant
Observing that the new plant marked the beginning of the next phase of development in India, Mr Rice said: “We will work on things India needs in energy, transportation and healthcare,” adding that the work done here will also be targeted at the export market. GE currently employees around 500 people in Maharashtra, including those working in a wind turbine plant in Pune, which currently operates from a leased facility.
Once the new plant becomes operational, over 2,000 more jobs will be generated.
The wind turbine facility will also be shifted to the new location.
Mr John Flannery, President and CEO, GE India said: “We had a vision to localise and make products suitable to India. This is a consummation of the vision. This factory can, and will, grown in size and GE will continue to invest heavily in the country and our capability.”
Earlier, Dr K. Shivaji, Principal Secretary, Industries, Maharashtra said that 335 Mega Projects, with an approximate investment totalling Rs 2,76,000 crore had been approved by the State government.
Ninety five of these had gone into production, he said.