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4-Traders Homepage  >  Equities  >  Xetra  >  Siemens AG    SIE   DE0007236101

Delayed Quote. Delayed  - 07/27 05:35:12 pm
96.64 EUR   +0.98%
01:05a SIEMENS : delivers first Saudi made gas turbines
07/27 SIEMENS : secures follow-up onshore wind project in Australia
07/27 SIEMENS : Flexible Combined Cycle Power Generation
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Siemens : delivers first Saudi made gas turbines

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07/28/2016 | 01:05am CEST

German engineering giant Siemens yesterday announced to have shipped its first Made in KSA (Kingdom of Saudi Arabia) gas turbine to Integrated Gasification Combined Cycle (IGCC) power plant being developed to power Jazan Economic City in Saudi Arabia.

This is the worlds largest power plant of its kind that will be fuelled with gasified refinery residues, which contributes significantly to increasing the energy efficiency.

Siemens is supplying a total of 10 gas turbines that were specifically designed for synthesis gas (syngas) to Saudi Aramcos landmark project.

These engineering masterpieces will power the 4,000 megawatt (MW) power plant and generate 600 tonnes of high pressure steam per hour to Aramcos refinery, which is an essential part of the overall development of Jazan Economic City.

The shipment of the first locally produced gas turbine falls in line with the event held by Aramco with its partners for the Fadhili project.

Professor Siegfried Russwurm, Member of the Managing Board and CTO of Siemens AG, said: Today we celebrate another milestone together with our partners. We built these high-tech gas turbines in Saudi Arabia with local talent and are proud to deliver them to their new home in Jazan. We have kept our promises and are grateful to Saudi Aramco for their confidence in Siemens. We assure Aramco and the people of Saudi Arabia of Siemens continuous strong commitment and contribution to the realization of the Kingdoms Vision 2030.

Siemens is a leader in building energy-efficient and resource-saving technologies. In addition, Siemens contribution to the Saudi society extends beyond supporting the successful operation of the Kingdoms power plants and achieving best-in-class efficiency standards.

Siemens adds lasting value to local communities and has made sustainable development the cornerstone of all its activities, and that means acting responsibly on behalf of future generations and keeping the three dimensions of sustainability people, planet and profit in balance.

(c) International 2006-2016, SANA Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (€)
Sales 2016 79 585 M
EBIT 2016 7 586 M
Net income 2016 5 314 M
Debt 2016 17 516 M
Yield 2016 3,75%
P/E ratio 2016 14,83
P/E ratio 2017 13,43
EV / Sales 2016 1,25x
EV / Sales 2017 1,19x
Capitalization 82 144 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 100 €
Spread / Average Target 3,7%
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Managers
NameTitle
Josef Kaeser Chairman-Management Board
Gerhard Cromme Chairman-Supervisory Board
Ralf Peter Thomas Chief Financial Officer
Siegfried Russwurm Chief Technology Officer
Michael Diekmann Member-Supervisory Board
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