Boston, MA, 04/10/2014 (usastockreport) – This year seems quite eventful for General Electric Company (NYSE:GE) as it tries to bid big for projects. All in all, the company has been landing profits and seems all set to take the next step forward. General Electric Company seems to be gearing up for new ventures and trying its luck to bag new projects. After all, the progress rate will go up only if the project rate increases.
New Energy Infrastructure
General Electric Company (NYSE:GE) has placed a bid on to improve the energy infrastructure in the North American region by proposing to build a pipeline of natural gas, which will stretch over 435 miles all across the Yucatan Peninsula in Mexico. This will cost the company billions of dollars yet the company is all set to make such a huge investment in North America because of the oil and gas boom in the nation which is attracting a number of investments in the pipeline industry.
The investing arm of General Electric already has investments up to $3 billion invested in the pipeline construction for liquefied natural gas in the U.S. GE is now thinking to shift its investments to early stage ventures like other U.S. and Canadian pipeline operators who have been earning billions in such deals. The managing director of General Electric Company, Jim Burgoyne has said recently in an interview that there is an increasing need for capital investment in the building of the pipeline in the ground in order to properly exploit the shale regions.
GE-Angola Joint Venture
General Electric Company (NYSE:GE) has very recently announced the first delivery of major equipment to its Subsea Systems business in order to fulfill the terms of a contract entered into by the company’s joint venture with Angola Ltd. for a major operator. Owing to this delivery project the company brought an excellent team together from its facilities in Norway, the U.K., the U.S. and Angola. The CEO and the president of General Electric and the vice president of Angola Ltd. seem delighted with the project and its initial success.