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- Company news: General Electric Co. (GE) plans to invest $ 10 billion in Argentina over the next decade
Company news: General Electric Co. (GE) plans to invest $ 10 billion in Argentina over the next decade
As Reuters reports, the US industrial conglomerate General Electric will invest $ 10 bn in Argentina until 2026. This was stated by Deputy Chairman John Rice on Monday. Thus, of GE becomes another foreign company that has announced new plans after the inauguration of President Mauricio Macri.
GE has invested $ 1.2 billion conjunction with local partners and customers over the past four months, informs the company in a statement, including $ 900 millio invested in the construction of thermal power plants, and another $ 280 million have been provided in the form of credit for Aerolineas Argentinas to finance the purchase of seven aircrafts.
GE say that the company's investment will help build seven power stations, which will add about 1 gigawatt of power to the electrical system of Argentina.
GE shares rose in premarket trading to $ 29.57 (+ 0.48%).
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