GE announces $50mn investment in clean energy, local manufacturing and digitization


Karachi: GE (NYSE: GE) today announced three significant investments in Pakistan, valued at over US$50 million, to strengthen digitization, enhance local capabilities of GE Pakistan and its partners, and help develop new projects in clean energy sector.

Announced on the sidelines of GE Chairman & CEO Jeffrey Immelt’s visit, the new investments include the setting up of a dedicated Technology & Digital Center,and investment in local manufacturing and clean energy projects.

The new GE Pakistan Technology & Digital Center also marks GE’s focus to introduce its Industrial Internet solutions for its partners to support them in accelerating productivity and operational efficiency. The Center will be grounds for customer and developer collaboration on development of software solutions and Industrial Internet applications and will deliver training to build the skills of Pakistan’s technical & skilled professionals.

Investment in local manufacturing will reinforce GE’s commitment to building local talent, lean manufacturing capability and indigenization of technology. GE is also looking to co-invest in several clean energy projects in the renewables and gas based sectors.

Nabil Habayeb, GE’s President & CEO for the Middle East, North Africa and Turkey, said: “GE is today at the cutting edge of digital innovation, having transformed our businesses to leverage the potential for growth offered by the digital industrial economy. The meshing of big data & advanced analytics with heavy machinery, which we call as Industrial Internet, is today the game changer of businesses world-wide. With the new investments, we are underlining our commitment to bring greater digitization that will help enhance the operational efficiency and productivity of our partners in the country.”

GE harnesses the power of the Industrial Internet and delivers value to its customers via Asset Performance Management (APM), a category of software and technology that optimizes machines and operations to maximize business performance across industries including aviation, manufacturing, energy, transportation and healthcare. GE’s Industrial Internet applications and solutions are powered by Predix, the world’s first and only cloud-based operating system built exclusively for industry. GE has also unveiled its dedicated environment for industrial developers, Predix.io, which will lay the foundation for the world’s first and largest marketplace for industrial applications.

Sarim Sheikh, President & CEO of GE Pakistan, explained: “We are building on our long history of operations and partnerships in the country with the new investments that will not only strengthen our service efficiency, but also drive localized innovation and human capital development. To drive ahead in the digital industrial economy, it is important to train young professionals, and work with them to co-create innovative solutions. This is one of the core missions of the new Technology & Digital Center. Pakistan’s young and vibrant talent pool of software professionals is uniquely positioned to leverage the opportunity provided by GE’s Industrial Internet using Predix.io.”

Pakistan is already at the vanguard in embracing Industrial Internet solutions by GE. A great example is the integration of Predix by Sapphire Electric Company Limited. It drives a suite of APM applications which allows industrial assets from any vintage or vendor to talk seamlessly with each other in a secure manner and uses analytics to deliver outcomes for our customers. At Sapphire’s Muridke Power Plant, GE solutions are being applied to two 6FA gas turbines and other major equipment, which will improve the facility’s operations for higher output, better efficiency and availability.

Further, GE’s Advanced Gas Path (AGP) solution is being installed on three 9E gas turbines at K-Electric’s Bin Qasim II Power Plant, which is expected to boost output and increase fuel efficiency.

Today, GE technologies generate nearly a third of Pakistan’s electricity, and the company is the largest operations & maintenance (O&M) and long term maintenance services provider to several leading independent power producers (IPPs) in the country.

More recently, GE signed an agreement to provide two high efficiency 9HA gas turbines and associated equipment to Bhikki Power Plant. Regarded as the world’s largest and most efficient, the 9HA gas turbines have been selected by world’s leading utilities in the United States, Germany, France, United Kingdom, Japan, Korea, Russia, Turkey, Egypt, Brazil and Argentina. The Bhikki plant will generate the equivalent power needed to supply more than six million Pakistani homes.

Among key agreements in the country, GE in 2008 signed a Memorandum of Understanding with the government to develop Pakistan’s energy resources to meet the projected demand by the year 2020. GE will assist the government in achieving its goals by engaging in Pakistan’s energy, transportation and water sectors and will work to identify potential sources of funding and explore potential investment opportunities in those sectors.