Siemens to produce wind turbines -Governance Now

Siemens to produce wind turbines

GN Bureau | February 3, 2010

Siemens, a leading infrastructure provider company, has announced it will invest Rs.1,600 crore in India over the next three years. A major part of this will be invested in the renewable energy market and to expand its existing production capacity.

“Our goal is to strengthen our position as the leading provider of green infrastructure solution in India,” said Peter Loescher, president and CEO, Siemens AG. Rs.500 crore will be invested to build high-end technology wind turbines, the company said in a statement in New Delhi on Tuesday. The plant would be operational by 2012, he said.

Siemens will also have six new hubs in India for design, development, production and sale of its products in India and in the world market. The company plans to generate revenue of Rs.6,500 crore by 2020.

The company also plans to increase its workforce to 25,000 from the current 17,00 by 2012.

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