Zacks_Analysts' Blog : GE Adds Power to Kuwait - Analyst Blog

In April, Kuwait floated a new tender for building turbines for a plant in the north of the country. At that time, the Ministry had expected costs for bringing the plant into effect by 2011 to be far less than 700 million dinars. Kuwait has one of the world’s highest per capita power consumption rates.

Apart from GE, other companies that initially qualified for the project included Germany's Siemens (SI), Japan's Mitsui & Co. (MITSY) and Marubeni Corp., Spain's Iberdrola Ingenieria Y Construccion and Canada's SNC-Lavalin Ltd.

General Electric has products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. It serves customers in more than 100 countries and employs more than 300,000 people worldwide.

We currently have a Neutral recommendation on GE.