Siemens Is Delaying Signing $20 Billion Saudi Power Deal
- Siemens AG Chief Executive Officer Joe Kaeser’s decision to skip an investment conference in Saudi Arabia this week has delayed the signing of a power-plant contract that could ultimately be worth as much as $20 billion, according to people familiar with the matter. Kaeser was scheduled to sign the agreement while attending the Future Investment Initiative conference in Saudi Arabia this week, said the people, who asked not to be identified because the talks aren’t public. The project is expected to go ahead despite the snub, although at ...
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