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Siemens pegs hiking localization of turbine production to 90% at tens of millions of euros

July 11, 16:18 UTC+3 YEKATERINBURG

By raising the local manufacturing content for turbines in Russia to 90%, Siemens will be able to participate in the country’s new program to modernize generating capacity

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© Yelena Afonina/TASS

YEKATERINBURG, July 11. /TASS/. Germany’s Siemens estimates investments into boosting the local manufacturing content for mid and high capacity gas turbines from the current 60% to 90% at tens of millions of euros, President of Siemens Russia and Central Asia Dietrich Moeller said in an interview with TASS.

"I stated that we’ve already reached a localization level of around 60%, which is already a big step and a major investment. But 30% still remains, and it is possible to reach that 30% through (our) own investments worth tens of millions of euros," he said.

By raising the local manufacturing content for turbines in Russia to 90%, Siemens will be able to participate in the country’s new program to modernize generating capacity, which will succeed the capacity supply agreement program that had expired last year.

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