Siemens intends to invest €40M in Russian innovations

Siemens will be the first German company to invest €40M of its own funds in the development of a Skolkovo project. This statement of the Chairman of the Board of Siemens AG Peter Loescher was made at a press briefing on the opening of Future Dialogue 2013 Conference.

However, Siemens is not limited to this amount and will add €20M more borrowed from the state. The implementation of the planned is scheduled for the next 2-3 years. At the same time, Siemens is not just going to invest in innovations, but use the results obtained in practice. This is natural, since business must have a return.

The turnover of Siemens in Russia for 2012 amounted to €1.6B, and it is only a small part of the total sales turnover which is €78.3B, and the operating profit of all departments amounted €5.2B.