Siemens to Expand Gas-Fired Power Station in Argentina
Germany's Siemens AG (SIE.XE) said Wednesday that it has won a contract with Argentina's Pampa Energia SA (PAMP.BA) to expand a gas-fired power station in Buenos Aires province.
The company didn't disclose financial details of the contract.
Siemens said it will work in collaboration with Techint SpA to increase the Genelba power plant's capacity to 364 megawatts from 168 megawatts, adding that it expects the plant to be commissioned in mid-2019.
The contract encompasses engineering work as well as assistance with assembly and commissioning, Siemens said, while Techint will be responsible for overall installation.
Chief Executive Joe Kaeser said earlier this year that the company will seek to adapt its gas-and-power business to focus on Latin America, Asia and Africa as demand for large gas and coal turbines continues to dwindle in Europe and North America.
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(END) Dow Jones Newswires
November 29, 2017 05:17 ET (10:17 GMT)