India may back out of multi-million dollar deal with GE

India's willingness to look at electric powered locomotives could be a real jolt to General Electric's massive $2.5 billion deal there.  According to multiple reports from the Wall Street Journal and Bloomberg, India could be looking to back away from a General Electric deal that would build 1,000 diesel locomotives and a plant there.

India's newly installed Railways Minister spurred the speculation by saying India should look at electric locomotives, which GE doesn't make.  In a short statement quoted by the reports, General Electric warns that backing off would "undermine one of the most promising infrastructure projects in the country".

The two sides are expected to meet today.


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