Siemens Signs Service, Construction Contracts for Russian Power Plants
02 October 2019 - 7:36PM
Dow Jones News
By Kim Richters
Siemens AG (SIE.XE) said Wednesday that it has signed contracts
with two Russian chemical companies worth a total of 290 million
euros ($316.3 million).
The German engineering giant said that it has agreed with PJSC
Kazanorgsintez to build an industrial power plant in Tatarstan,
Russia, acting as general contractor for the site and providing a
SGT5-2000E gas turbine and a SST-600 steam turbine.
Siemens expects the site, for which it also agreed a service
contract, to start commercial operations in 2023.
The company also signed a service contract for a power plant
owned by PJSC Nizhnekamskneftekhim, it said. Both companies are
part of Russian investment company TAIF Group, according to
Siemens.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 02, 2019 05:21 ET (09:21 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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