Siemens will be investing more than INR5bn over the next three years to build high and technology wind turbines for the Indian consumers. It will establish six new hubs in India, responsible for the design, development, production and sale of these products for India and for global market. The goal is to generate total revenue of about INR65bn by fiscal 2020 with value priced products from India.
Peter Loescher, president and CEO of Siemens, said: “Our goal is to strengthen our position as the leading provider of green infrastructure solutions in India’s booming market. The growth of India and other emerging countries is remarkable. These countries will prosper in 2010 and beyond. India has the people, the products, and the innovation power and that’s why we are expanding our presence here.”
Four of the six hubs will be centers of competence for the products such as low end signaling system, ring main units, steam turbine greater than 45MW, and iron & steel marketing equipment. Siemens will be responsible for manufacturing these products and supplying them to the global market. The other two centers for competence in India will be wind power engineering and EPC execution for turn key power plants solution, the company said.
Armin Bruck, managing director of Siemens, said: “We are committed to expand our portfolio in the country. I am particularly pleased that we are leveraging India’s competencies by establishing six hubs for value-priced products with responsibility for global markets. We are confident we will meet the expectations.”
