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Thu, Jun 01, 2006 - Page 10 News List

GE invests in infrastructure, healthcare

AFP , MUMBAI

US conglomerate General Electric (GE) will invest US$250 million in infrastructure and healthcare projects in India over the next decade, chairman and CEO Jeff Immelt said.

"The next 10 years are critically important for India in terms of infrastructure," he told a business meeting in Mumbai late on Tuesday.

GE announced last year it would reinvest the US$145 million proceeds from the sale of a mothballed power plant in India and Immelt said the company would pump a further US$100 million into a development fund.

The focus would be healthcare, cleaner energy, clean water and aviation projects, the company said.

Immelt said GE planned to expand its presence further in India with GE Consumer Finance aiming to double revenues by 2010, investing aggressively in credit cards, home and personal loans, a company statement said.

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