Siemens to invest €600M in Berlin

Wednesday, 31. October 2018 10:14

Siemens AG is making a €600 million investment in Berlin, committing to "shaping the future of Germany as a location for industry," the company said on its website on Wednesday. With the investment, Siemens wants to participate in industry and research in the German capital by building the new "Siemens City 2.0," which will be located in Berlin's Spandau district.

Siemens City 2.0 takes up an area of approximately 70 hectares. The main goal of the investment is to change Spandau's industrial area into a "modern urban district of the future for a diverse range of purposes." A long term goal is to partner with local science and business communities to improve technology research and development in Berlin. Siemens also plans to facilitate opening of research centers, start-ups, and scientific research institutes.

The project marks the largest Siemens investment in Berlin in the history of the company. Siemens shares advanced 1.80% at 10:13 am CET.

Related Links: Siemens AG
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Breaking the News / SS