Over the next three years,
Siemens AG- together with its
partners - intends to invest €1
billion in Russia. Peter Löscher, President
and CEO of Siemens AG, announced
this initiative in Moscow recently. As a
provider of innovative technologies for
power generation and transmission,
mobility and solutions for urban
infrastructures, Siemens can play a key
role in Russia's modernization.
The
company will therefore systematically
expand its presence in the country. For
example, plans call for the new
construction or expansion of locations
for production, research and
development (R&D) and services in
regions such as Yekaterinburg, Perm, St.
Petersburg and Voronezh. About 4,000
specialist jobs will be created overall.
"Our far-reaching investments
underscore Russia's great importance as
a strategic core market for Siemens. By
entering into a technology partnership,
we're supporting the country's
ambitious modernization plans and
placing our close cooperation with our
Russian partners on a new, even broader
basis," said Peter Löscher.
A large part of the planned
investments, around €700 million, will
focus on the future-oriented energy
market. For example, plans call for about
€400 million to be invested in new
production facilities for efficient gas
turbines and in the expansion of the
service business.
In August, Siemens
announced a joint venture with the
Russian company Power Machines to
manufacture, market and service gas
turbines. To be headquartered in St.
Petersburg, this cooperative venture will
be launched as soon as the relevant
antitrust authorities approve the
transaction. In the area of renewable
energies, plans call for the construction
of a new production plant for wind
turbines and a rotor blade
manufacturing facility, for which
investments totaling roughly €120
million have been earmarked.