General Electric praises SA plant, announces $2bn Africa investment

2014-08-04 18:05

General Electric’s locomotive plant in South Africa is one of its most productive, says chairman and CEO Jeffrey Immelt.

Immelt today, on the sidelines of the US-Africa Leaders Summit in Washington DC, announced a $2 billion investment from the company in Africa by 2018.

“The factory we built in SA to provide locomotives to Transnet is one of the productive factories we have anywhere in the world, so the capability of people in the right setting is fantastic,” he told journalists at the Newseum.

Immelt was responding to a question about the importance of supporting the teaching of the right skills in the countries where the company was investing.

General Electric recently received part of a R50 billion contract from Transnet to build locomotives, South Africa’s single biggest infrastructure investment intiative by a corporate.

President Jacob Zuma praised this initiative when he addressed the US Chamber of Commerce earlier today.

“We welcome the partnership between General Electric and Transnet in replenishing our rail infrastructure, through the locomotives deal,”

he said.

General Electric is set to supply 465 diesel locomotives out of the 1064 to be built.

The $2 billion investment in Africa will focus on power generation and transport infrastructure in countries like Nigeria, Angola, and health programmes in countries like Nigeria, Kenya, Ghana, Rwanda, Uganda, Tanzania and Malawi.

General Electric today said Africa has emerged as its “most promising growth region”.

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