Siemens rises on plan to invest Euro 66 million for gas turbines near Berlin

15 Dec 2011

Siemens is currently trading at Rs 673.10, up by 3.65 points or 0.55% from its previous closing of Rs 669.45 on the BSE.

The scrip opened at Rs 678.90 and has touched a high and low of Rs 678.90 and Rs 660.35 respectively. So far 11659 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 951.00 on 26-Jul-2011 and a 52 week low of Rs 652.25 on 24-Nov-2011.

Last one week high and low of the scrip stood at Rs 716.00 and Rs 660.35 respectively. The current market cap of the company is Rs 22781.04 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 11.63% and 13.37% respectively. 

In a bid to build a combustion test centre for gas turbines near Berlin, Siemens is investing Euro 66 million. The projected test center will begin operation in 2014. It will have three cells for investigating combustion processes of burners under real-life operating conditions.

Further, the company has said that center of competence in Berlin Moabit and a recently commissioned production facility in Charlotte, North Carolina, form the basis of the global manufacturing, sales and service network for Siemens gas turbines.

The importance of the Berlin site is reflected by Siemens’ decision to invest more than Euro 70 million there in three major modernization programmes. The company has renovated its test facility in Berlin-Moabit, in which fully assembled gas turbines are tested under actual power plant conditions.

The company has installed a new drilling station for gas turbine casing parts and also established a new production shop for gas turbine blades. In fiscal 2011, Siemens’ environmental portfolio totaled revenue of about Euro 30 billion.

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