Govt awaits GE, Bechtel response on DPC
GE Commercial Finance, which has an asset base of more than $230 billion globally, is planning to increase its exposure in the Indian market.
GE Healthcare, a unit of General Electric Company, is eyeing $1-billion sales in the South Asian market over the next five-years, a top company official said.
If celebrating Valentine's Day is any measure of being romantic, Indians are Asia's second-most romantic lot with 68.5 per cent of them showing affection for their partners on this day, a survey has found.
US-based General Electric, which along with Bechtel controls 85 per cent stake in the beleaguered 2,184-MW Dabhol Power Company, is open to sell its equity but wants its claims to be settled first.
Restarting Dabhol Power could face fresh hurdles with its two stakeholders, Bechtel and GE, demanding full recovery of their investment in the project, lying idle for more than 24 months now.
GE is also bullish on India's power sector and has chalked out plans in electricity generation from various sources such as wind, solar, gas, etc.
In a significant development, GE and Bechtel, minority share holders in Enron-promoted Dabhol Power Company, have agreed to extend unconditional support for restarting generation of power from the project, lying idle for over 20 months.\n\n\n\n
GE's India head reflects on his hits and misses and shares his plans to return soon.
National carrier Air India and GE Aviation will together invest USD 90 million to set up a maintenance, repair and overhaul (MRO) facility to cater to the latter's GEnx-1B engines.
US conglomerate General Electric on Wednesday said it is planning to foray into the banking sector in India through acquisitions of an existing bank or by setting up a subsidiary of its own.
GE Commercial Finance, an arm of the US conglomerate General Electric, on Monday announced its plan to invest Rs 1,000 crore to expand operations in India.
Engineering and construction major Larsen & Toubro has signed a memorandum of understanding with the US-based GE Hitachi Nuclear Energy, one of the largest nuclear power plant vendors in the world, for the construction of nuclear power plants in India.
Bechtel Enterprises and GE, the two US companies that hold stakes in Dabhol Power Company, have filed an arbitration action against the Government of India, seeking about $600 million each as against their investment of $120 million each in DPC.
The US economy is suffering its steepest downturn since at least the 1970s and could descend into a depression, Jeff Immelt, General Electric's chief executive, warned on Thursday.
The trouble-torn 2,184 MW Dabhol power project is all set to be restarted with General Electric, one of the major equity holders, slated to reach an agreement with Indian financial institutions by this month end.
GE Shipping, the country's largest private sector shipping company, is bringing down its exposure to the dry bulk segment to withstand the 93 per cent downfall in freight rate for such vessels.
In an attempt to restart the controversial Enron promoted Dabhol power project, the power ministry is holding high-level talks with minority partners, GE and Bechtel.
The global giant, which recorded total revenue of 183 billion dollars in 2008, has presence in various verticals, including technology, energy infrastructure, transportation, aviation and enterprise solutions in India.
Terming the Dabhol Power project a "bump in the road", GE, a major stakeholder in the project, on Monday said delayed resolution has not affected the company's investment plans in India and suggested that NTPC should be given responsibility to operat
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
GE India managed revenues of $2.6 billion (about Rs 130 billion) in 2007 and is hopeful of meeting its target of $8 billion (about Rs 400 billion) by 2010. Key projects in the transportation and nuclear power sector are expected to help it reach that target, says Vice-Chairman John G Rice.
GE Capital International Services, a wholly-owned subsidiary of General Electric Company, USA, announced the launch of its latest IT-enabled services facility in Hyderabad on Wednesday.
Meanwhile, the US Bankruptcy Court late on Thursday has rejected Reliance Energy Ltd's bid to buy out the bankrupt Enron Corp's 65 per cent stake in the controversial Dabhol Power Company.\n\n\n\n
The proposed restarting of the Dabhol power project has received yet another setback with the promoter General Electric (which holds 10 per cent stake) setting a pre-condition of getting its dues cleared before the start of the project.\n\n\n\n
Air India will be saving $150 million over 15 years by mounting advanced General Electric engines GE90-115B on its 27 Boeing 777-300ERs aircraft.
Jeffrey R Immelt, global chairman of General Electric Company was in New Delhi on Thursday as part of his three-day visit to India
Air India will purchase 220 planes from Boeing for $34 billion, with an option to buy 70 more aircraft that could take the total transaction value to $45.9 billion, a deal that US President Joe Biden described as a "historic agreement". While announcing the Boeing-Air India deal on Tuesday, Biden also asserted that together with Prime Minister Narendra Modi, he was looking forward to deepen the ties between India and the US. As per an announcement from the White House, Boeing and Air India have reached an agreement under which the airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm order valued at $34 billion at list price.
From upgraded portable ECG machines to digital X-ray units, the research lab does them all.
