GE to set up $200 mn plant in India

I really think that the comments we have made about investing in nuclear power in India havent changed based on the tragedy in Japan.

Jeffrey Immelt,chairman and CEO of GE on Monday said the company will set up a manufacturing facility in India to make energy equipment and has earmarked $200 million for the purpose.

I really think that the comments we have made about investing in nuclear power in India havent changed based on the tragedy in Japan. We have said consistently that the regime in India has to fit the global liabilities regimes for nuclear power, he said at a media roundtable in the Capital.

It is all happening real time… the primary containers of the reactors have not been breached, he said,adding there are nuclear liability concerns in India and there are gaps which need to be filled up.

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Meanwhile,GE is bullish on Indias power sector and has chalked out plans in electricity generation from various sources such as wind solar and gas. Rapid growth in India is expected from wind,solar and gas. We see a lot of activity and our pipeline is very strong, Immelt said,adding infrastructure remains a challenge in order to enter the power space.

The company feels there is not sufficient infrastructure in India to compliment the rapid expansion in the power sector. It is likely to employ over 3,000 people.

On the impact of Japan nuclear crisis on Indias nuclear energy programme,Immelt said that it is still too early to make any profound decision.

GE,along with Hitachi,is the equipment supplier for the Fukushima Daiichi atomic plant in Japan which was hit by the earthquake on Friday.

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