Siemens makes plans for further local investment

German engineering conglomerate Siemens AG has expressed interest i n continuing to invest here through its Thai subsidiary.

Ambassador Peter Pruegel and top executives from Siemens Ltd (Thailand) met Industry Minister Atchaka Sibunruang on Wednesday to seek government cooperation for further investment.

Markus Lorenzini, president and chief executive of Siemens Thailand, said ways of expanding Siemens’ investment were discussed as well as how to improve the productivity of Thai industries, particularly in terms of energy saving and innovation.

Siemens Thailand has the skills and strong potential to develop the production technology of various industrial sectors, he said.

Mr Lorenzini said Thailand was on the right track in continuing its policy of creating innovations that would benefit the country in the long term.

“Siemens will keep investing in Thailand in the future with support from the government and its clear policy of developing innovation,” he said.

Mr Lorenzini said Siemens had strong experience in Thailand, with a long history of investing here.

The company is not interested in Thailand alone but the entire Southeast Asian region, especially in border areas, fostering trade and investment opportunities among Asean neighbours, he said.

Regarding Board of Investment privileges, Mr Lorenzini said Siemens was waiting to see the final version of the new packages before making any decisions.

“All the packages will have to be put on the table for comparison with those of other countries as well,” he said.

Mr Lorenzini said Siemens was particularly interested in developing technology for Thai sugar operations. It has already provided cane-crushing technology to Kaset Thai International Sugar Corporation (KTIS) and Mitr Phol Group.

KTIS recently undertook a 400-millionbaht upgrade of its cane-crushing machinery, switching from a steam turbine system to an electronic motor system provided by Siemens.

The new machinery will increase daily production capacity to 55,000 tonnes of sugar cane while cutting power costs by 30%, KTIS chief executive Parphan Siriviriyakul said.