Siemens to build wind power equipment factories in Brazil, India and Russia - report
(ADPnews) - Dec 31, 2010 - German engineering group Siemens AG (ETR:SIE) intends to start building factories for wind power equipment in Brazil, India and Russia in 2011, daily Frankfurter Allgemeine Zeitung (FAZ) reported citing Rene Umlauft, CEO of the Siemens Renewable Energy division.
The company plans investments in the triple-digit million euro range.
The production is expected to be launched at the end of 2012, and 2013, Umlauft said. In the next two to three years, Siemens will have over 12 plants for wind power equipment, the CEO of the Renewable Energy division told FAZ.
According to Umlauft, Siemens has already entered all regions that offer a major growth potential.
The way to Brazil is now free, while Umplauft expects first orders from India in the next few weeks. Construction work in Russia should be launched once Siemens' joint venture with Rostechnology and Rushydro, in which the German group has a share of 51%, is sealed, the CEO said.
Siemens aims to become one of the three leading suppliers of wind turbines by 2012.