Siemens signs pacts to deepen ties to China's Belt and Road push

ZURICH - 6 June 2018: Siemens (SIEGn.DE) has signed more than ten cooperation agreements with Chinese companies as it seeks to benefit from deepening involvement with China’s “Belt and Road” infrastructure initiative, the German engineering group said on Wednesday.

Siemens said the cooperation covers power generation, energy management, building technology and intelligent manufacturing and includes companies such as China National Chemical Engineering Group Corp, China Railway Construction Corp(International) Ltd and China Civil Engineering Construction Corp.

The cooperation pact aims to target projects in countries and regions including Indonesia, the Philippines, Nigeria, Mozambique as well as South America.