General Electric (GE) has announced that it will invest $200m to build new plants and warehouses to support the development of its interests in the Indian rail market.
The US industrial company’s planned expenditure is the result of GE and French engineering firm Alstom receiving contracts worth a combined $5.6bn (£3.68) to modernise Indian Railways. The contracts are the largest to be given to foreign companies since last year when India allowed 100% Foreign Direct Investment in the railway sector. GE has said it…
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