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Siemens postponed the signing of a contract with Saudi Arabia

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Siemens postponed the signing of a contract with Saudi Arabia
October 24
10:00 2018

According to a reputable agency Bloomberg, Siemens decided to postpone the construction of a power plant in Saudi Arabia. The project was estimated at $ 20 billion. After the head of the company refused to go to the economic forum in Saudi Arabia, it was decided to postpone the signing of a joint contract.

The signing of the agreement was scheduled for this week. It was supposed to be held in Riyadh, but the absence of Siemens CEO Joe Kaeser at the forum means rejection of the project or, at least, postponing it.

The head of Siemens is not the only one who refused to visit Riyadh because of the murder case of journalist Jamal Hashkaji. The incident took place at the Saudi consulate in Istanbul. Riyadh confirms the fact of the murder, but does not plead guilty.

What is more, Bloomberg notes that neither Mr. Kaeser nor anyone else from the Siemens Managing Board gave any comments on whether the contract would be signed in the future.


The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade

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