Friday, September 17, 2010

EMD to invest $100 million in India plant

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In a story dispatched from Lucknow, India, on Friday, the Business Standard, a daily newspaper in that country, reported that LaGrange, Ill.-based Electro-Motive Diesel announced in a conference call that it will invest $100 million in India during the next three years in a manufacturing unit. The occasion was the launch of the EMD Centre of Excellence at Lucknow.

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“Although the exact location of the plant has yet not been finalized, the company has prospective sites in consideration, including Uttar Pradesh,” EMD COO Ossama Hassan said. “After North America, India is our most important market. ... While still in the initial stages, the production unit would cater to the domestic demand in India. We will later try to tap the export market, too.”

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EMD is a wholly-owned subsidiary of Progress Rail Services, based in Albertville, Ala.