American firm General Electric Aerospace (GE Aerospace), one of the world's leading aircraft engine manufacturers, has declared its intention to invest approximately Rs 240 crores, equivalent to around $30 million, in its existing facility located in Pune, Maharashtra, India.

The GE Aerospace factory, inaugurated by Indian Prime Minister Narendra Modi in February 2015, manufactures components for commercial jet engines. These components are then supplied to GE's global factories, where they are utilized in the assembly of various aircraft engine variants, including the G90, GEnx, and GE 9X.

The recent investment will enable the Pune facility to incorporate new projects and manufacturing processes by procuring machines, equipment, and specialised tools. Additionally, it will facilitate the enhancement of capacity for existing products.

According to the firm, the facility has played a crucial role in nurturing local aerospace manufacturing talent, having provided training to over 5,000 individuals in specialised aerospace precision manufacturing processes since its establishment.

Earlier this week, the American conglomerate GE concluded a multi-year financial and operational transformation, resulting in the establishment of three independent public firms: GE HealthCare, GE Vernova, and GE Aerospace.

This restructuring not only signifies GE's commitment to adapt to changing market dynamics but also highlights its dedication to fostering innovation and driving growth in the aerospace and healthcare industries. With these developments, GE positions itself to better serve its customers and stakeholders while continuing to pursue excellence in its core businesses.

Image source: Times of India