Siemens to invest millions of dollars in Saudi Arabia

February 15, 2011 | Budget & Investment

German industrial conglomerate Siemens AG said Tuesday it plans to invest hundreds of millions of dollars in building a gas turbine manufacturing and repair facility in Saudi Arabia.

The plant should be operational 18 months after approval is received from the authorities, it said. The manufacturing hub will eventually create more than 1,000 jobs on site, with another 3,000 jobs indirectly related to the facility, it added.

The project includes the production of gas turbines and rotating equipment, a repair workshop, and service facilities for the Saudi Arabian and Middle East market