(The following report appeared at Forbes.com on June 25.)
MUMBAI — General Electric Co Co wants to build a plant in India with Indian Railways to make heavy-haul diesel locomotives, Business Standard reported.
The joint venture is proposed to be majority-owned by GE, the paper said.
The paper quoted GE Infrastructure, India, president and CEO Pratyush Kumar as saying investment could range between $100 million and $200 million, with the plant will be capable of rolling out 100-120 locomotives a year. The plant could also cater to overseas markets at a later stage.