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Name | Symbol | Market | Type |
---|---|---|---|
Siemens AG (PK) | USOTC:SIEGY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.06 | 0.06% | 96.97 | 96.33 | 97.42 | 97.4199 | 94.99 | 95.48 | 159,195 | 21:12:32 |
By Olivia Bugault
Siemens AG (SIE.XE) said Thursday that, along with its partner Harbin Electric Co. (1133.HK), it has signed an agreement with K-Electric Ltd. (KEL.KA) to build a power plant in Pakistan.
Under the contract, the German engineering giant and its Chinese partner will build a 900 megawatt combined-cycle power plant at a complex in the city of Karachi. Siemens will provide two gas turbines, along with steam turbines, generators and condensers, it said.
Pakistani electricity company K-Electric will invest $650 million in the project, which should begin this year and end in 24 months, Siemens said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
October 24, 2019 11:06 ET (15:06 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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