Siemens eyes more wind plants in China

FRANKFURT: German industrial conglomerate Siemens plans to invest further in its wind power business in China, the head of its wind power business told a German newspaper.

"We will inaugurate some more plants in China in the coming years," Financial Times Deutschland cited Felix Ferlemann as saying in its Monday edition.

Siemens said on Friday it would form two joint ventures with China's Shanghai Electric to expand its foothold in the country's wind turbine market, the world's largest.

"China is still a very strong market," Ferlemann told the newspaper.

"If the offshore business starts up in the medium term, it will be a multi-billion market."