Germany's Siemens Energy to Invest EUR155 Million in Transformer Production, Service Plant in Austria
Idag, 13:11
07:11 AM EDT, 05/04/2026 (MT Newswires) -- Siemens Energy (ENR.F) will invest 155 million euros in two projects in Austria, the country's Federal Ministry of Economy, Energy and Tourism said Monday.
The German energy technology company will spend 60 million euros on a new service plant for the maintenance of power transformers in Linz, and another 95 million euros to expand the production of phase-shifting transformers in Weiz. The new Linz plant is expected to start production in mid-2027, while that in Weiz is set to begin in early 2028.
Minister Wolfgang Hattmannsdorfer said the projects would create up to 180 new jobs.
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Germany's Siemens Energy to Invest EUR155 Million in Transformer Production, Service Plant in Austria
Idag, 13:11
07:11 AM EDT, 05/04/2026 (MT Newswires) -- Siemens Energy (ENR.F) will invest 155 million euros in two projects in Austria, the country's Federal Ministry of Economy, Energy and Tourism said Monday.
The German energy technology company will spend 60 million euros on a new service plant for the maintenance of power transformers in Linz, and another 95 million euros to expand the production of phase-shifting transformers in Weiz. The new Linz plant is expected to start production in mid-2027, while that in Weiz is set to begin in early 2028.
Minister Wolfgang Hattmannsdorfer said the projects would create up to 180 new jobs.
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