|
Siemens Sets Up Subsidiary for Shanghai Wind Project
Siemens Wind Power, a subsidiary of Siemens AG (NYSE:SI, ETR:SIE), plans to spend RMB 581 million to establish a Siemens Wind Turbine Blades Co., Ltd. in Shanghai, in order to meet China's requirement that 70% of a project's wind equipment be produced domestically, reports Economic Information Daily quoting Siemens Wind Power CEO Andreas Nauen.
Reports in late October said that Siemens is investing RMB 581 million to construct a wind turbine production facility in Shanghai.
According to Nauen, the turbine base covers 180,000 square meters and will produce its first blades during the 2010 World Expo, scheduled to be held in Shanghai between May and October.
|
