Siemens Energy increases investment in Waigaoqiao

english.pudong.gov.cn Updated:2020-06-18

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Siemens logo [Photo/WeChat account: pdnews]

Siemens Energy Co Ltd recently added 3.8 billion yuan ($550.62 million) to its registered capital in Waigaoqiao bonded area, Pudong, Shanghai, bringing its total registered capital to 4.1 billion yuan.

The company was established in Waigaoqiao in November 2019 and is affiliated to Siemens Energy Group, which specializes in petrol and gas, electric power generation, power transmission, and related services. 

Local officials said the added investment within a half year after its establishment reflects the attractive business environment in Waigaoqiao and will promote the development of regional headquarters economy in the area.

The area's administration has been closely following the operation and development of major companies in the area and has worked to ensure that capital and supply chains for transnational companies remain intact.