Siemens Energy AG is deliberating to sell a significant portion of its 24 per cent stake in a publicly-traded Indian affiliate to its former parent, Siemens AG. This potential move is part of Siemens Energy's efforts to fortify its balance sheet, Bloomberg reported.

The report cited sources familiar with the matter, who disclosed that the turbine manufacturer may make an announcement regarding the divestment of shares in Siemens Ltd., which is listed on the Mumbai stock exchange, as early as this week. The current value of these shares is approximately €3.3 billion ($3.5 billion). It's worth noting that Siemens AG already owns a majority stake of 51 per cent in the Indian business.&nbsp;

Government pressure on Siemens for loan guarantees&nbsp;

Simultaneously, Siemens is under governmental pressure to provide loan guarantees, which are deemed critical for Siemens Energy to undertake significant future projects. The government is reportedly discussing a combination of state-backed guarantees for Siemens Energy, supplemented by guarantees from Siemens, which is the largest shareholder, as well as some banks. &nbsp;

Discussions surrounding these potential guarantees are ongoing, and the terms of the proposals remain subject to change. While the government is open to committing up to €8 billion ($8.5 billion) in guarantees, it anticipates that Siemens and financial institutions will contribute the rest. This situation arises as Siemens Energy has been seeking support of up to €16 billion ($17 billion) for forthcoming projects after Siemens had previously indicated it was no longer willing to assist. Siemens Energy Supervisory Board Chairman, Joe Kaeser has emphasised that the talks are solely focused on financial guarantees for future projects, not a financial bailout.&nbsp;

Crucial guarantees to secure future projects&nbsp;

Siemens Energy's need for financial guarantees is tied to its ability to secure new large-scale contracts for the construction of transmission networks and gas turbines. While these units remain profitable, they are now confronted with challenges stemming from the financial pressures exerted by losses incurred by the Spanish Gamesa wind unit. Siemens Energy had previously forecasted a €4.5 billion ($4.78 billion) loss for fiscal year2024, despite efforts to address issues with specific wind turbines. &nbsp;

&nbsp;(With inputs from Bloomberg)&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Siemens Energy AG is deliberating to sell a significant portion of its 24 per cent stake in a publicly-traded Indian affiliate to its former parent, Siemens AG. This potential move is part of Siemens Energy's efforts to fortify its balance sheet, Bloomberg reported.

Siemens Energy AG is deliberating to sell a significant portion of its 24 per cent stake in a publicly-traded Indian affiliate to its former parent, Siemens AG. This potential move is part of Siemens Energy's efforts to fortify its balance sheet, Bloomberg reported. The report cited sources familiar with the matter, who disclosed that the turbine manufacturer may make an announcement regarding the divestment of shares in Siemens Ltd., which is listed on the Mumbai stock exchange, as early as this week. The current value of these shares is approximately €3.3 billion ($3.5 billion). It's worth noting that Siemens AG already owns a majority stake of 51 per cent in the Indian business. Government pressure on Siemens for loan guarantees Simultaneously, Siemens is under governmental pressure to provide loan guarantees, which are deemed critical for Siemens Energy to undertake significant future projects. The government is reportedly discussing a combination of state-backed guarantees for Siemens Energy, supplemented by guarantees from Siemens, which is the largest shareholder, as well as some banks. Discussions surrounding these potential guarantees are ongoing, and the terms of the proposals remain subject to change. While the government is open to committing up to €8 billion ($8.5 billion) in guarantees, it anticipates that Siemens and financial institutions will contribute the rest. This situation arises as Siemens Energy has been seeking support of up to €16 billion ($17 billion) for forthcoming projects after Siemens had previously indicated it was no longer willing to assist. Siemens Energy Supervisory Board Chairman, Joe Kaeser has emphasised that the talks are solely focused on financial guarantees for future projects, not a financial bailout. Crucial guarantees to secure future projects Siemens Energy's need for financial guarantees is tied to its ability to secure new large-scale contracts for the construction of transmission networks and gas turbines. While these units remain profitable, they are now confronted with challenges stemming from the financial pressures exerted by losses incurred by the Spanish Gamesa wind unit. Siemens Energy had previously forecasted a €4.5 billion ($4.78 billion) loss for fiscal year2024, despite efforts to address issues with specific wind turbines. (With inputs from Bloomberg) WATCH WION LIVE HERE

Siemens Energy considers sale of stake in Indian affiliate to Siemens AG 

As many as twenty-three firms including Bombardier, Alstom, Siemens and GMR have shown interest in running private trains in the country and attended a pre-application meeting on Wednesday as a first step, the Railways said.

Other companies that attended the meeting on running private trains in 12 clusters included BEML, IRCTC, BHEL, CAF, Medha Group, Sterlite, Bharat Forge, JKB infrastructure and Titagarh Wagons Limited, it said.

The Railways has invited 12 Request for Qualifications for private participation in operation of passenger trains over 109 origin-destination pair of routes through introduction of 151 modern trains (rakes).

These new trains will be in addition to the existing ones operated on the network.

It is the first initiative of private investment for running passenger trains on the Railways network. The project would entail private sector investment of about Rs 30,000 crore.

The private entities for undertaking the project will be selected through a two-stage competitive bidding process comprising Request for Qualification (RFQ) and Request for Proposal (RFP).

As many as twenty-three firms including Bombardier, Alstom, Siemens and GMR have shown interest in running private trains in the country and attended a pre-application meeting on Wednesday as a first step, the Railways said.

As many as twenty-three firms including Bombardier, Alstom, Siemens and GMR have shown interest in running private trains in the country and attended a pre-application meeting on Wednesday as a first step, the Railways said. Other companies that attended the meeting on running private trains in 12 clusters included BEML, IRCTC, BHEL, CAF, Medha Group, Sterlite, Bharat Forge, JKB infrastructure and Titagarh Wagons Limited, it said. The Railways has invited 12 Request for Qualifications for private participation in operation of passenger trains over 109 origin-destination pair of routes through introduction of 151 modern trains (rakes). These new trains will be in addition to the existing ones operated on the network. It is the first initiative of private investment for running passenger trains on the Railways network. The project would entail private sector investment of about Rs 30,000 crore. The private entities for undertaking the project will be selected through a two-stage competitive bidding process comprising Request for Qualification (RFQ) and Request for Proposal (RFP).

Bombardier, Alstom, GMR attended meeting on running private trains: Railways

siemens-ag

Siemens Ag, News on Siemens Ag, stories on Siemens Ag, articles on Siemens Ag, Siemens Ag stories at Wion, Siemens Ag news, Siemens Ag latest news

siemens ag

Siemens Energy considers sale of stake in Indian affiliate to Siemens AG

Bombardier, Alstom, GMR attended meeting on running private trains: Railways