Siemens set out plans to invest 2 billion euros ($2.17 billion) to boost manufacturing capacity this year, pledging to develop a high-tech plant in Singapore and expand its digital factory in Chengdu, China, to tap growth opportunities in digitalization and automation.
The German industrial conglomerate said Thursday that it would pour around EUR200 million into its new Singapore facility, creating more than 400 jobs. The company will also invest EUR140 million to expand its digital factory in Chengdu, adding another 400 jobs.
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