GE and Alstom global companies got the contracts for setting up of locomotive factories in Bihar [ Current Affairs ]
About GE: General Electric is an American multinational firm corporation of New York, U. S. It was founded in Schenectady of New York, U. S in 1892 by Thomas Edison, Charles Coffin, Elihu Thomson and Edwin Houston.
- The company works through the following segments from 2015: Appliances, Power and Water, Oil and Gas, Energy Management, Aviation, Healthcare, Transportation and Capital which provides to the needs of Home Appliances, Financial services, Medical device, Life Sciences, Pharmaceutical, Automotive, Software Development and Engineering industries.
- Alstom is a French multinational company and founded in 1928.
- It is operating in the worldwide as rail transport markets and active in the fields of passenger transportation, signaling and locomotives.
- Its products include the AGV, TGV, Eurostar and Pendolino high - speed trains, in addition to residential, regional and metro trains and Citadis trams.
- Alstom’s headquarters are located in Levallois - Perret of west of Paris, France.
About getting the contract:
- General Electric and Alstom have got $5.6 billion around Rs. 37, 000 crore of contracts from the Indian Railways to build diesel and electric locomotive factories in Marhora and Madhepura in Bihar.
- It is the first major foreign direct investment (FDI) in rail projects.
- Published on: November 23, 2015