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Siemens announces major investment in Saudi

Siemens AG is to invest heavily in state-of-the-art Saudi facility

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Peter Loescher, CEO of Siemens AG
Peter Loescher, CEO of Siemens AG

Siemens AG has announced plans to establish a manufacturing and service facility in Saudi Arabia, investing hundreds of millions of US dollars in the local production of gas turbines, rotating equipment, and a repair workshop with service facilities.

Designed to cater for the Saudi Arabian and Middle East market, the new facility will be built in the eastern province and is planned to be operational within 18 months of final permissions and approvals.

“The establishment of this manufacturing facility in Saudi Arabia is a natural progression of our historic relationship with the country,” said Peter Loescher, President and CEO of Siemens AG. “The centre will be state-of-the-art and produce the latest in sustainable technology, being both a job machine and a centre of excellence for engineering.”

Committed to gradually creating 1,000 new jobs at the facility, is has been estimated that more than 3,000 indirect jobs will be created in the Eastern Province, with Siemens intending to give the training and education of young Saudis a further boost by building up technology know-how via vocational training.

Commenting on the news, Ali S. Al Barrak, President & CEO Saudi Electricity Company said: “The Kingdom of Saudi Arabia is pushing to establish latest technologies and to develop specialist and engineering knowledge for the power industry in the Kingdom."

"To engage with a global innovation leader such as Siemens will assist the Kingdom to make best use of its natural resources and to realise its vision of a knowledge society. This commitment by Siemens will strengthen the partnership between the two companies.”


 

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