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FINANCIAL NEWS
Siemens sets up USD173.29m manufacturing plant in Saudi
09 May 2012
(MENAFN) Siemens Saudi Arabia CEO, Arja Talakar, stated that the company launched the foundation of a USD173.29 million manufacturing plant in Dammam’s Second Industrial City, reported Arab News.
Talakar said that the 220,000 square meter factory, which is the first of its kind for Siemens in the Middle East, will produce gas turbines and compressors that will be supplied to the Saudi market.
Moreover, the facility, which will aid the country’s drive for industrialization, will be expected to create job opportunities for many Saudis.
It is worth noting that Siemens has been operating in Saudi since the 1930s and has over 2,000 employees in the Kingdom.
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