Siemens plans KL investment

Siemens plans KL investment

KUALA LUMPUR (AFP): German technology giant Siemens plans to invest a total of 3.4 billion ringgit (US$89 million) in two of its electronics plants in Malaysia next year, a report said Tuesday.

Siemens president Heinrich von Pierer was cited by The Star newspaper as saying it will spend three billion ringgit to expand its semiconductor plant in the southern Malacca state and 420 million ringgit at another plant in the northern Penang state.

"This shows our confidence and trust in the country. We are very optimistic about our future here," he said.

Pierer said the new investments would increase Siemens total workforce in the country to 10,000 employees from 7,000 in two years.

Pierer said Siemens decided to boost its investments in Malaysia due to the country's favorable investment environment, stability, skilled labor force and low costs.

Siemens, which had participated in several large power station projects, hoped to secure more telecommunications and infrastructure contracts, he said.