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Siemens to allocate USD5.2b for research in 2016
(MENAFN) Siemens, the German multinational conglomerate considered to be the largest engineering company in Europe plans to increase its spending on research in 2016 by 7 percent to USD5.2 billion.
Additionally, the Berlin-based major behemoth stated that most of the allocated funds are reserved for its core businesses of automation, digitization and decentralized energy systems.
Moreover, the group intends to also establish a new fund of primarily up to USD108.6 million throughout the next three years for its employees to propose and carry out vital projects.
The giant will set a high-voltage direct-current transmission technology for routes between northern and southern Germany, a potential alternative to building controversial new power lines.
Additionally, the Berlin-based major behemoth stated that most of the allocated funds are reserved for its core businesses of automation, digitization and decentralized energy systems.
Moreover, the group intends to also establish a new fund of primarily up to USD108.6 million throughout the next three years for its employees to propose and carry out vital projects.
The giant will set a high-voltage direct-current transmission technology for routes between northern and southern Germany, a potential alternative to building controversial new power lines.
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