Siemens signs deal to build two gas-fired power plants in Libya
FRANKFURT (Reuters) — Siemens, the German industrial group, plans to build two gas-fired power stations in Libya, in a fillip for its struggling power division which is shedding staff as developed economies shift to renewable sources of energy.
Siemens Power and Gas signed the agreements on Thursday with Libyan state utility GECOL on the plants, a company spokesman said without elaborating.
The deal follows an announcement by Siemens last month that it would cut 6,900 jobs, or around 2% of its global workforce. Most of the jobs would be shed by 2020 at its energy unit as demand for gas turbines fades.
The firm’s home market Germany and much of Europe is shifting increasingly to wind and solar power, but energy-hungry markets elsewhere are still yielding significant business for the power division.
Siemens signed an $9.4-B deal in June to supply gas and wind power plants to Egypt in a deal that would boost the North African country’s electricity generation by 50%.
Reporting by Georgina Prodhan; writing by Douglas Busvine; editing by Andrew Roche
- Mitsubishi Heavy Industries Compressor acquires Swiss rotating equipment maintenance company AST Turbo AG
- Digital Exclusive: Evolving pressure relief valve designs protect LNG facilities
- Qatar’s Ras Laffan LNG hub hit by missile attack, ‘extensive damage’ reported
- JGC-Hyundai JV awarded EPC contract for major low-carbon LNG plant project in Papua New Guinea
- Iran attacks wipe out 17% of Qatar’s LNG capacity for up to five years
Comments