Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Siemens to invest 
1 billion in India
By siliconindia
|
Thursday, 09 September 2004, 19:30 IST
NEW DELHI: Global diversified business group Siemens Wednesday said it would invest 
1 billion in India to support expansion and modernisation plans over the next year.
The investments will be made to support its manufacturing plans, mainly in the areas of transportation systems, power transmission and distribution and IT, said a company statement.
The fresh investments will lead to increased local value-added content for manufactured products and systems in India, said the statement.
Siemens in India is a leading provider of industry and infrastructure solutions with total sales aggregating 40 billion. It operates in the energy, industry, IT, communications, transportation, healthcare and lighting sectors.
"To meet the needs of the market, both from the existing order position and future growth plans, the company has decided to set up new capacities and expand some of its existing capacities," said the statement.
"It is also undertaking a modernisation programme to upgrade some of its facilities."
Siemens' transportation systems division bagged two large orders from Indian Railways in the current fiscal for providing traction equipment for Mumbai's suburban trains and for diesel locomotive works.
The company is setting up a new software development centre at Bangalore through its software arm Siemens Information Systems Ltd. (SISL). It has modernised its old factory premises at Worli into a software centre.
"Our focus will be on the infrastructure and IT segments of our business," said J. Schubert, managing director of Siemens India Ltd.
"Our recent success in winning key orders in the areas of power, rail transportation, industry and IT has created a need to expand and increase our existing capacities."
1 billion in India to support expansion and modernisation plans over the next year.
The investments will be made to support its manufacturing plans, mainly in the areas of transportation systems, power transmission and distribution and IT, said a company statement.
The fresh investments will lead to increased local value-added content for manufactured products and systems in India, said the statement.
Siemens in India is a leading provider of industry and infrastructure solutions with total sales aggregating 40 billion. It operates in the energy, industry, IT, communications, transportation, healthcare and lighting sectors.
"To meet the needs of the market, both from the existing order position and future growth plans, the company has decided to set up new capacities and expand some of its existing capacities," said the statement.
"It is also undertaking a modernisation programme to upgrade some of its facilities."
Siemens' transportation systems division bagged two large orders from Indian Railways in the current fiscal for providing traction equipment for Mumbai's suburban trains and for diesel locomotive works.
The company is setting up a new software development centre at Bangalore through its software arm Siemens Information Systems Ltd. (SISL). It has modernised its old factory premises at Worli into a software centre.
"Our focus will be on the infrastructure and IT segments of our business," said J. Schubert, managing director of Siemens India Ltd.
"Our recent success in winning key orders in the areas of power, rail transportation, industry and IT has created a need to expand and increase our existing capacities."