Germany’s engineering giant Siemens is backing Iran in plans to launch power plants relying on modern gas turbines that would add some 5 gigawatts (GW) to the country’s electricity generation capacity.
Iran is in talks with Siemens Mobility to jointly produce parts used in manufacturing subway wagons, according to director of investment at Industrial Development and Renovation Organization (IDRO) of Iran.
Iran’s media say German engineering giant Siemens has started talks to invest in the country’s petrochemical industry in a fresh sign of growing post-sanctions opening in the business environment of the Islamic Republic.
Iran has the potential to become a major economic
power given its high reserves of natural resources and its highly
skilled population, said a member of the managing board of German
electronics giant Siemens in an interview with IRNA in Berlin.
As Iran looks to significantly expand and modernize its rail network, Siemens will address the future needs of Iran with an upgraded portfolio of rail innovation and mobility management — including the launch of a tailored concept locomotive specifically for the Iranian market — at the Iran Rail Expo 2016 in Tehran from May 15 to 18.