Siemens signs over 10 agreements with Chinese firms to tap BRI

Siemens signed over 10 collaborative agreements with Chinese companies on Wednesday to deepen its participation in the Belt and Road initiative by focusing on power generation and smart manufacturing where the German engineering group “has rich experience and technologies."

The BRI “proves to have far-reaching significance, with China having boosted the infrastructure development in many emerging markets,” said Joe Kaeser, chief executive officer of Siemens, at a conference in Beijing on Wednesday.

Siemens is keen to deepen its participation in the BRI in power generation and management, smart building and smart manufacturing where it “has rich experience and technologies,” the company told Shanghai Daily.

The Chinese infrastructure development companies which signed the agreements on Wednesday include China Gezhouba Group International Engineering Co, Guangdong Yuedian Group Co, China National Chemical Engineering Group Corp, China Railway International Group, China Civil Engineering Construction Corp and China Resources Cement Holdings Limited.

The collaboration will see the partners develop business in Indonesia, the Philippines, Nigeria, Mozambique and some markets in South America, Siemens said.