Over the next three years, Siemens AG intends – together with its partners – to invest €1 billion in Russia. Peter Löscher, President and CEO of Siemens AG, announced this initiative in Moscow today at the annual meeting of the Foreign Investment Advisory Council chaired by Russian Prime Minister Vladimir V. Putin. 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.
ABB, the leading power and automation technology group, will upgrade the automation of the Aswan hydropower plants, making the power generation more reliable and efficient. The order was booked in the third quarter.
Saudi Electricity Company, Saudi Arabia’s state-owned power supplier, said it has signed an agreement with a contractor and financial backers to build the Qurayyat power station in the Eastern Region at a cost of SAR 10.7bn.
ABB, the leading power and automation technology group will, build a new transmission and distribution substation in the state of Amazonas, in northwestern Brazil for the state-owned power utility company Eletrobras Amazonas Energia.
ABB, the leading power and automation technology group, has won an order worth around $1 billion from the Dutch-German transmission grid operator TenneT to supply a power link connecting offshore North Sea wind farms to the German mainland grid.
ABB, the leading power and automation technology group, has won orders worth $144 million, from the Saudi Electricity Company (SEC), Saudi Arabia’s national power transmission and distribution operator, to construct new substations and upgrade existing ones to help address the growing demand for electricity in the region. The orders were booked in the second quarter.
ABB, the leading power and automation technology group, has won a major order from National Grid in the UK to provide a market management system to help balance supply and demand for electricity in the country.