At this rate, Asia-Pacific represents the highest growth centre for Siemens globally.
Guenter Wilhelm, corporate executive member of Siemens with special responsibility for Asia-Pacific, said within the next ten years, Asia-Pacific will comprise nearly half of the world electricals market with annual growth rates of some ten per cent. Our goal is to continue growing faster than our respective markets, he said.
Siemens' $10-billion target includes orders worth $8.5 billion from consolidated companies and $1.5 billion from activities that have not yet been consolidated.
Wilhelm said Siemens is growing faster in Asia-Pacific than anywhere else in the world. Our plans call for a business volume of some $17 billion by the year 2000. According to Wilhelm, India represents a soaring market for the company. Business in the country has grown by nearly 30 per cent annually in recent years to over $1 billion today, he said.
In Indonesia, Siemens has installed over four million line units of its digital telecommunication switching systems till date.
In China, the company achieved considerable success this year and it is now working on five coal-based power projects in the country with a combined capacity of over 5,000 mw.
In telecommunications, Siemens sold nearly 10 million line units of the digital switching system in the country and expects orders for three million line units annually.
Wilhelm said in Hong Kong, a number of competence centres were developed in recent years which provide technical assistance as well as financial engineering for complex projects.
In Australia, the company recently put into operation a 5,000-km fibre-optic transmission network