US conglomerate General Electric (GE) is in talks with several companies over joint ventures in the UAE and Saudi Arabia, said Patrick Lebreton, business development manager of GE, based in Riyadh, Saudi Arabia.

It may not be straight manufacturing, but may involve some component repair business to start with, he said.

In another development, GE held its first e-business event in the Gulf to introduce customers, partners and suppliers to its e-business activities. 250 customers and suppliers from the GCC attended the event in Dubai, UAE, to witness the online capabilities of GE businesses.

GE is a diversified services, technology and manufacturing company with a commitment to achieving worldwide leadership in each of its major businesses.

GE, which posted global revenues of $112 billion last year, says it is quickly transforming itself from an 'old economy' to a web-enabled 'new economy' company.

GE's activities in the region are conducted through direct presence, joint ventures, strategic alliances, and a wide network of distributors. The company has completed strategic projects in various hi-tech industrial sectors, defence related contracts and major infrastructure developments.