GE Equipment Services (GEES) today announced its entry in India by acquiring 15% stake in Titagarh Wagons. The company also plans to invest $8 billion in the country by twenty ten.Terming it a strategic investment, considering the Indian Railways has been opening up to private players, GEES feels that it would be able to fulfill the railway ministry's demands for wagons. In fact, with the partnership with Titagarh Wagons, GEES would foray not only in wagon manufacturing, but would also set up facilities for maintenance of wagons.The partnership comes at a time when the railways ministry is in the final stages of starting work on the dedicated rail freight corridor project.GEES India President Dhananjay Nalawade said currently Indian Railways has around 2,30,000 wagons, while it would require 3,30,000 wagons by 2010. "This is where our partnership with Titagarh Wagons would come in handy," he said. GEES is also in talks with the ministry for providing signalling equipment."GE is looking at investing around $8 billion in India by 2010, a majority of which would be pumped in infrastructure," Nalawade said. GE is also keen on taking part in the ministry's other PPP initiatives like land development.Titagarh Wagons, which is one the leading railway wagon manufacturers in India, is primarily engaged in the production of wagons, bailey bridges and heavy earth moving equipment.
