(Yicai Global) July 10 -- China's State Power Investment Corp., one of the country's largest power producers, and German conglomerate Siemens will carry out cooperation in the field of heavy-duty gas turbines.
Qian Zhimin, chairman of the State Power Investment Corp., and Joe Kaeser, president and chief executive officer of Siemens, signed a memorandum of understanding in Berlin today to start the firms' partnership, state-backed The Paper reported. Chinese Premier Li Keqiang and German Chancellor Angela Merkel attended the signing ceremony.
On the same day, Premier Li and Chancellor Merkel co-chaired the fifth round of China-Germany intergovernmental consultations. Li finished his official visit today by attending the Forum on China-German Economic and Technological Cooperation, in which he called the two countries to promote the development of emerging industries such as artificial intelligence, new energy vehicles, and autopilot.
Munich-based Siemens intends to support the Beijing-based SPIC in the development of heavy-duty gas turbines and to provide the technology, training, and technical advice, the MOU indicates.
A gas turbine turns natural gas or other liquid fuels into mechanical energy in a way that is more efficient, affordable and environmentally friendly than that of a coal-fired power plant.
Editor: Emmi Laine