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.