General Electric (GE) is considering participating in the Paks nuclear power plant expansion as a supplier, GE vice chairman John G. Rice, said while conducting talks in Veresegyháza, northeast of Budapest, yesterday.
John G. Rice, President of GE Global Growth and Operations, said the Hungarian government and GE share goals in education, competitiveness, capacity development and export expansion. He noted that exports accounted for 99% of GE Magyarországʼs revenue of HUF 1.524 trillion in 2014.
He said GE is satisfied with the activity of its Hungarian units, which employ 10,000 workers, and have plans to make further hires.
John G. Rice said GE could supply the entire turbine island as well as the generator for the Paks nuclear power plant expansion, with the help of Hungarian manufacturers and local suppliers. He estimated the value of the products to be supplied by GE at $1.5 bln.
He noted that with the purchase of Alstomʼs power business, GE has acquired further capacity and manufacturing capability and would also build on the power and grid activities of Alstomʼs Hungarian subsidiary. The merger could result in job losses but those affected by the layoffs would be offered jobs at GEʼs other Hungarian units, he added.
GE has been operating in Hungary since 1989. GE operates 11 manufacturing plants, five R+D centers and four business service centers in Hungary.