Siemens to set up R&D Center near Mumbai and a Software Center in Maharashtra

Siemens signs Letter of Understanding with Government of Maharashtra

Siemens Ltd has announced that the Government of Maharashtra and Siemens signed a Letter of Understanding on January 28, 2008, to support Company's expansion plans in the State. Mr. Vilasrao Deshmukh, Honourable Chief Minister of Maharashtra and other dignitaries of the Government of Maharashtra delegation were in Europe to attend the World Economic Forum meet in Davos and made a stopover in Germany. A Letter of Understanding was signed by Mr. V K Jairath, Principal Secretary - Industries, Government of Maharashtra and Dr. Armin Bruck, Managing Director, Siemens Ltd. and Mr. V V Paranjape, Director, Siemens Ltd., thereby fully committing to put the projects on the fast track under Single Window Clearance and make them a success. The delegation including Chief Minister and other eminent dignitaries, visited the Siemens office in Berlin yesterday. They met with the senior management of Energy and Industry businesses of Siemens AG. They also visited the Traffic Management Centre and Turbine factory of the Company in Berlin. Siemens intends to develop additional manufacturing centers in Maharashtra. These will be for manufacturing equipment in the areas of Power Generation and Railway Transportation. During the discussion with the management of Siemens, the Government of Maharashtra committed to extend full support to Siemens and help Siemens India to expand its operations in the state. The CM delegation is on a 3-day visit to Germany to showcase the strengths of Maharashtra in Engineering and Automotive sector. Accompanying the CM's delegation are Mr. Johnny Joseph, Chief Secretary, Government of Maharashtra, V K Jairath Principal Secretary, Dept of Industries, Government of Maharashtra, and Mr. Rajiv Jalota CEO, MIDC. During this trip, the delegation will visit other German Companies such as Volkswagen, Hannover Trade and Exhibition Center. Siemens has a large presence in Maharashtra with its Headquarters located in Mumbai and 8 out of 18 factories situated in the state alone. Besides expansion plans in the areas of Power Generation and Railway Transportation, Siemens is also setting up an R&D centre at Kalwa, near Mumbai with 1000 people capacity and an additional software centre in the state.

Source: Equity Bulls