General Electric to bid for a contract worth US$2 billion

General Electric Co, the world's largest maker of electric turbines, will bid to supply as many as 18 natural gas-driven units worth US$2 billion to Taiwan.

GE Power Systems will bid against rivals such as Siemens AG and Mitsubishi Heavy Industries Ltd to supply the turbines to Taiwan Power Co's (Taipower, 台電) Tatan (大潭) project in northern Taiwan, said Rick Tio, general manager for energy product sales in the Asia Pacific region at GE Power Systems.

Winning business in Taiwan may help to offset canceled orders from customers such as Duke Energy Corp, the second-largest utility owner in the US.

GE Power Systems is General Electric's biggest industrial business.

"This will certainly be one of the important deals to GE that we will like to secure," Tio said. The competition "is going to be keen."

GE shares have fallen 38 percent this year, partly because of concern about slowing power system orders.