Mumbai, March 6: GE Energy Financial Services, a unit of General Electric (GE), is entering India to invest in energy and water projects. Apart from setting up an office in the country, it is financing the construction of a power unit for Binani Cement Limited in Sirohi, Rajasthan.

GE Energy will lend Rs 75 crore to Binani Cement to construct a 22.3-mw thermal power plant and associated common utilities at Sirohi, which will enable the cement firm to meet its enhanced power requirement.

Binani Cement is expanding its cement production capacity from 2.25 mmtpa to 5.3 mmtpa besides planning to build a second 22.3 mw power plant. It is also considering tapping the capital markets.

Alex Urquhart, president and CEO of GE Energy Financial Services, said the investment in Binani Cement was just the beginning of a broader, global investing strategy.

“India is a launching pad for our global growth, a platform to expand and serve customers in other key markets such as West Asia and east Asia,” he said.

Colleen Harkness, managing director and head of global growth, GE Energy, said the financing of the power plant of Binani Cement “sets the stage for our growth in India through investments in power projects addressing India’s growing industrial power requirements, including in the cement and steel industries.”

GE Energy, which began operations in New Delhi last year, will open its second office in the country during the second quarter of this year. It will be headed by Raghuveer Kurada, an energy investment professional, the company said.