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SIEGY Siemens AG (PK)

96.97
0.06 (0.06%)
07 May 2024 - Closed
Delayed by 15 minutes
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

Siemens to Supply Gas Turbines for Pakistan Power Plant

24/10/2019 4:21pm

Dow Jones News


Siemens (PK) (USOTC:SIEGY)
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From May 2019 to May 2024

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   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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