Archive for the ‘General Electric’ Category

GE engines to save Air India $150 million

February 21, 2007

Air India will be saving $150 million over 15 years by mounting advanced General Electric (GE) engines GE90-115B on its 27 Boeing 777-300ERs aircraft. The Ecomagination range of engines allow better fuel efficiency and lower operating costs.

V Thulasidas, CMD, Air India said: “We are spending large amounts on aviation turbine fuel (ATF), which accounts for over 35 per cent of our operating costs. We have bought the best airframes and new generation engines to become one of the most efficient airline with lowest operating costs.”

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GE F404 IN20 Engines Ordered for India Light Combat Aircraft

February 15, 2007

Hindustan Aeronautics Limited (HAL) has ordered an additional 24 F404-GE-IN20 afterburning engines to power the first operational squadron of Tejas fighter aircraft for the Indian Air Force.

Value of the order is in excess of $100 million and follows an initial 2004 purchase of 17 F404-GE-IN20 engines to power a limited series of operational production aircraft and naval prototypes.

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Hindustan Aeronautics orders 24 GE engines

February 7, 2007

Hindustan Aeronautics Ltd (HAL) said on Tuesday it has ordered 24 afterburning engines from GE Aviation in a deal valued at more than $100 million.

The order of F404-GE-IN20 engines, for the Indian Air Force’s first operational squadron of Tejas fighter aircraft, follows an earlier purchase of 17 engines in 2004, HAL said.

GE Aviation, a manufacturer of jet engines for civil and military aircraft, is a unit of General Electric Co.

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GE Aviation scouts for MRO ally in India

January 6, 2007

GE Aviation, one of the world’s leading manufacturers of jet engines for civil and military aircraft, plans strategic tieups with suppliers from India for sourcing of materials.

The firm is also looking at establishing relationships with Air-India and Indian Airlines for local engine maintenance, repair, and overhaul (MRO) facilities.

GE had early committed $20 million investment in an engine shop as part of a $8.1 billion deal by Air-India to acquire 68 airplanes from Boeing.

GE will be supplying engines to Air-India for this mega deal.

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GE to invest $600 mn, eyes $8bn from India

November 14, 2006

GE India, part of the global GE conglomerate, plans to invest $600 million in the Indian market in the next three years even as it targets a topline of $8 billion from Indian operations by 2010. The company also expects the assets of its Indian operations to touch the same figure of $8 billion by 2010. 
 
Earlier in May 2006, GE’s global chairman and CEO Jeff Immelt had announced a $250 million investment in infrastructure and healthcare projects in India and said that GE intends to dramatically expand its industrial and financial presence in the country. The world’s largest corporate has identified India as its fastest growing market from emerging markets even as it anticipates global revenues from this segment to double to over $50 billion by that period. 
 
“Our target is $8 billion in revenues and $8 billion in assets by 2010. We will be investing about $600 million in the Indian market over the the next three-four years. This could also go up depending on the number of power projects that we can get our hands on,” said GE India president and chief executive Scott R Bayman. 

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GE Energy plans to set up nuclear power plant

November 10, 2006

US-based conglomerate GE today said it was looking to set up nuclear power plants in India and was open to form joint ventures with domestic companies.

“We are open to enter the Indian market as an owner or an operator,” GE Energy President and CEO Andrew White, who is in India to hold talks with various companies for possible joint ventures, told reporters here.

Eyeing the huge scope for nuclear energy in India after the nuclear cooperation agreement with the US goes through, White said the company was open for either setting up new plants or participating in expansion of existing facilities.

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American nuke sellers make beeline for India

November 10, 2006

America’s nuclear suppliers are embarking on a love affair with India!

Reminds me of the days shortly after Union Carbide’s plant at Bhopal spew tonnes of poisonous gas on the city killing tens of thousands. Carpetbaggers from America descended in hordes seeking power of attorney from the victims in an American court in return for a percentage of the compensation.

The nuclear suppliers descending on Indian soils are somewhat like the carpetbaggers of the 1980s. There are huge profits to be made. India is short of power so anyone stringing up a line from a power plant to the electricity grid can sell all the power he makes if the Indian government ushers in a laissez faire regime.

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GE on nuclear mission to India

November 9, 2006

US-based power major GE Energy on Wednesday said it was looking at the potential of nuclear business in India and was open to forming joint ventures with local companies.

“We are open to entering the Indian market as an owner or an operator,” Andrew White, president and CEO, GE Energy, said at a media briefing here. He said the company would consider either setting up new plants or taking part in the expansion of existing facilities.

Earlier in the day, White met NTPC chairman T Shankarlingam and senior officials in the power ministry. “If some utility wants to take part (in some projects) we will look into it,” he said.

GE Energy was offering two of its generation 3 and 4 reactors, which meet the Indian requirements.

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United Technologies hopes to take on GE in India

August 28, 2006

Global manufacturing conglomerate, United Technologies wants to take on GE in India. A substantial chunk of its USD 2.8 billion global R&D budget could find its way into India, reports CNBC-TV18. Jet engine maker Pratt & Whitney, airconditioning and refigeration major, Carrier Corp as well as the world’s top elevator maker, Otis – all these companies are part of the diversified US manufacturer United Technologies.

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Lockheed Martin intends to do “meaningful work” in India

August 20, 2006

The US-based defence and aerospace company, Lockheed Martin today said it intended to begin “putting meaningful work” in India, independent from any sales contracts.

The USD 37.2 billion New York Stock Exchange-listed company said initial projects could involve manufacturing work and engineering development activities.

In a statement released at a press conference ahead of its first aerospace and defence supplier workshop commencing here on Monday, the company said it had been surveying potential relationships in India and sees great opportunity to add value to its product lines by working with the industry here.

“Lockheed martin views the Indian government’s new offset policy as an opportunity to create ‘win-win’ relationships that can help deliver high quality products at affordable costs,” it said.

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