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On June 15, 2023, Siemens is building a new factory in Singapore for its industrial automation and digitalisation products that will create more than 400 jobs locally. Estimated to cost €200 million (S$290 million), the German conglomerate’s plant will begin operation in 2025 or 2026, with Tuas as the likely location.
The factory is part of a €2 billion global strategy to expand the firm’s manufacturing capacity worldwide and build innovation labs, education centres and other facilities.
Siemens is also expected to increase its research and development spending for the 2023 fiscal year by €500 million to over €6 billion, said president and chief executive Roland Busch at a press conference at the firm’s MacPherson Road office on Thursday to announce the factory.
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