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| Siemens Acquires Coal Gasification Business of the Sustec-Group The Siemens Power Generation Group is expanding its power plant business with products and solutions for conversion of coal to electricity by acquiring the technology and engineering activities of the Sustec-Group, a Swiss based holding company has focused its investment strategy on sustainable technologies. This acquisition comprises, inter alia, the German firm Future Energy GmbH as well as a 50% stake in the Chinese joint venture with the Shenhua Ningxia Coal Group. Approval from the anti-trust authorities for the acquisition of the Sustec-Group is still pending. The price of the transaction will remain undisclosed. To accelerate development and testing of the next gasifier generation, Siemens also plans to build a large-scale coal gasification plant with an overall thermal capacity of more than 1000 megawatts (MW) at the location Spreetal in Saxony. write your comments about the article :: © 2006 Construction News :: home page |