UPDATE 1-INTERVIEW-GE sees weak 2010 rev growth in key division

*Says rev growth in tech infrastructure div to be weak nxt yr

*More clarity on U.S., Europe economic outlook by end-2010

*Expects Areva deal to be concluded in next 1-2 wks (Recasts lead, adds quotes, details)

GUANGZHOU, China, Nov 19 - General Electric Co expects anaemic revenue growth in 2010 for its technology infrastructure segment, as the United States and Europe remain mired in an economic downturn, signalling the worst is not yet over for the largest U.S. conglomerate.

GE, which stumbled financially last year, is seen as a bellwether for the world economy due to the size and the scope of the firm's operations, which range from commercial lending to building locomotives to running the NBC television network.

"We're not expecting a significant growth rate next year," John Rice, chief executive of GE's technology infrastructure division, told Reuters in an interview on the sidelines of an economic forum in Guangzhou on Thursday.

"It's as choppy a time and difficult to forecast as any I've ever seen," he said. "I'm certainly hopeful that by the end of next year we'll see more clarity in the developed markets."

Rice's division, which oversees the world's largest maker of jet engines, accounts for 39 percent of GE's profit across its five segments.

"We're expecting some ups and some downs," Rice said, referring to his division's businesses. "The aviation business will probably not grow."

Asked whether growth in developing markets such as China would offset weakness in the U.S. and European markets, Rice, also a vice-chairman of GE, said: "It will help, but likely not completely."

Over the next few years, China, India, Brazil, the Middle East and Russia will remain important markets for the Fairfield, Connecticut-based company, Rice said.

GE is always looking for opportunities to make acquisitions Rice said, but declined to be specific about which markets or businesses the firm is targeting.

CHINA ENGINE

Demand for GE products in China is likely to remain strong, even after the effects of Beijing's 4 trillion yuan ($585 billion) stimulus package wear off, Rice said.

"I think there's a core underlying economic engine that exists without the stimulus," he said. "In the long term, we see enormous potential in China in our aviation business."

"They're building more airports and more planes... and we expect to have a good number of GE engines on those planes."

He said the company is also looking for more partnerships such as its recent one with Aviation Industry Corp, a Chinese state-owned aircraft maker, to form an avionics joint venture that will target China's booming commercial aircraft market..

GE, which is bidding for the power and transmission unit of France's Areva, expects a decision from Areva within the next one or two weeks, Rice said.

State-owned nuclear reactor group Areva is selling its T&D unit and has selected Japan's Toshiba, a consortium led by U.S.-based GE, and French partners Alstom and Schneider Electric, as possible buyers.

GE's third-quarter profit fell 42 percent from the same period a year ago, as a global economic slump hammered its finance arm and eroded demand for heavy equipment..