(RTTNews) - GE Vernova Inc. (GEV), an energy equipment manufacturing and services company headquartered in Cambridge, Massachusetts, Wednesday announced the decision to invest around $600 million in its U.S. facilities and factories over the next two years to meet the increasing global electricity demands.
The latest announcement, part of a larger $9 billion global capex and R&D investment plan, is estimated to create a total of approximately 1,500 jobs across the nation.
The investment includes various projects such as $300 million for gas turbine manufacturing, $20 million for Grid Solutions expansion in Charleroi, $50 million for nuclear operations in Wilmington, $100 million, and $100 million in Advanced Research Center in Niskayuna.
In the pre-market hours, GE's stock is trading at $358.01, up 0.81 percent on the New York Stock Exchange.
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