Siemens seals agreements for Belt and Road Initiative

Siemens has entered into more than 10 agreements with Chinese partners in support and exploration of opportunities from the Belt and Road Initiative (BRI) in projects that target the market potentials of countries and regions such as Indonesia, the Philippines, Nigeria, Mozambique as well as South America.

At the Belt and Road International Summit held by Siemens, the company signed agreements with a number of leading Chinese enterprises, including China Gezhouba Group Corporation International Engineering Co Ltd, Guangdong Yuedian Group Co Ltd, China National Chemical Engineering Group Corporation Ltd (CNCEC), China Railway Construction Corporation (International) Ltd, China Civil Engineering Construction Corporation (CCECC) and China Resources Cement Holdings Ltd. The agreements covered projects for power generation, energy management, building technology and intelligent manufacturing.

"As a long-term and well-established partner of China and its industries, we support the call of the Belt and Road Initiative and take another solid step forward on a larger scale and a wider scope," said Joe Kaeser, president and CEO of Siemens AG. "BRI has proven to be a wise and powerful force for accelerating infrastructure development already in many participating countries. Siemens is uniquely positioned to help ensure sustainable success of the BRI through its vast technology portfolio, in-depth knowledge of local market needs based on a long-standing local footprint in the respective economies as well as the ability to create local value for these societies."

"By connecting multiple stakeholders of BRI, by providing innovative and digital technologies and by working closely together with our Chinese partners we continue to support a successful, open and fair international collaboration," said Lothar Herrmann, CEO Siemens Greater China.

Meanwhile, Siemens AG and Covestro Deutschland AG have also concluded a Joint Business Development Plan to provide further strategic reinforcement of their trust-based partnership of many years, particularly in the field of digitalisation.