Monday , August 2 2021

Joe Kaeser plans to travel to Saudi Arabia

Munich, BerlinThe wealth of oil in Saudi Arabia attracts Joe Kaeser is magical. After the CEO of Siemens recently canceled his participation in the investor of the "Future Investment Initiative" in October, Davis in the desert, he probably planned a different journey to the Kingdom.

In a conference organized by Saudi Aramco's largest oil oil company, the Munich-based technology group will act as a "platinum sponsor" – and CEO Kaeser will speak in a panel discussion on "Placeing a production in Saudi Arabia "on November 26, according to the program.

Siemens has been part of the country itself for a long time, producing turbines in the east – where the large oil fields have been located. Saudi Arabia is an important sales market for Kaeser. And the 61-year-old Niederbayer with a very personal commitment in the Kingdom of Saudi Crown Saudi Mohammed bin on the road, but also in Egypt, Iraq and other Arab countries.

In Riyadh, for example, Siemens is about building the metro; In Egypt, Kaeser won the largest power plant contract in the company's history. In Iraq, he signed a memorandum of understanding for the rebuilding of the energy supply infrastructure.

Kaeser is growing its connections – but the good relations between Germany and Saudi Arabia have been clearly cooler for some time. Not only since the murder of the journalist Conflict Jamal Khashoggi in the Saudi consulator in Istanbul in early October. Recent comments about the "foreign adventure" of the Sigmar Kingdom Kingdom (SPD) last year also disturbed Riyadh.

From November 2017, the country withdrew its ambassador from Berlin for almost a year. Gabriel was at the time of his statement of Foreign Minister of German. The model of the Siemens turbine, which used to decorate the Saudi embassy reception hall on the Spree, had disappeared despite the return of the highest diplomat of Riyadh.

In Dhahran, Saudi Aramco headquarters, Kaeser is now to discuss the "Vision 2030", that massive reform program of the great criticism in the Crown of Salman's Prince. According to the "In Kingdom Total Value Add Conference" program (Iktva), vice president of Aramco, sub-energy minister and Saudi industry, head of the Saudi industrialization initiative and vice president in Aramco, and & # 39 ; r The Chief Executives of the US company Jacobs discuss how even more industrial production can be done in the Kingdom itself. And how Saudi Arabia could become a production center for the whole region.

Siemens will be at the event alongside the Aramco joint venture with the Texas Rowan oil service company, ARO Drilling, and Nesma Platinum sponsor, Saudi oil industry supplier. Foreign corporations such as McDermott (USA), Sinopec (China) or Saipi (Italy) are committed as gold or silver sponsors with significantly lower amounts.

Just a few weeks ago, in October, Kaeser had been weighed for a long time, refusing to take part in the Investors' Forum in Riyadh, that the usual consistently high moral standard represented chief executives under heavy criticism. Jamie Dimon (JP Morgan), Richard Branson (Virgin Virgin) and IMF, head of Christine Lagarde had already been canceled in front of him. Siemens was so late that the company had to hold its stall in the "Davos in the desert", and Munich had to pay a large sum to the organizer – Saudi PIF state fund.

The mysterious background at that time was the enthusiastic murder of the journalist against Khashoggi. According to Turkish researchers, he was killed by a Saudi order that arrived especially in the Consul of the Kingdom in Istanbul. Saudi Arabia had long refused the event, so even US President Donald Trump said for "the worst bottom in history" and "disaster." The Federal Government and other western states had demanded a complete investigation into the murder.

Trump announced on Saturday to publish a comprehensive report on the Khashoggi case by Tuesday. He explains who has killed Khashoggi from the US perspective and what the consequences of this murder are. The findings of the CIA intelligence service, according to which Supervision of the Saudi Arabia, Mohammed bin Salman, was the murder of the critical journalist of the government, which the US President did not confirm. Trump called this assessment early.

There is no question of a real explanation of the kangchist murder. The fact that Siemens Kaeser's Chief Executive is now planning a trip to Saudi Arabia has yet to make him a critical target.

At the same time, however, Saudi Arabia is very important to the technology group: as well as the Metro construction in Riyadh and the turbine production in the east of the kingdom, it is also about with the Siemens oil service company, Dresser-Rand. Kaeser bought this company in the US for $ 7.6 billion in 2014, analysts analyzed for its high price. Aramco, as the world's largest oil producer, is considered to be an important potential client for the business.

So far, Siemens has confirmed that Kaeser will be the speaker in the congress. He continues to apply what he said canceled. At the time, Kaeser had emphasized that the truth is now Khashoggi's issue, the truth and justice must be found.

At the same time, Kaeser emphasized the importance of dialogue. It's always better to talk to each other and not to each other. And: He claimed that the "Vision 2030" of Saudi Arabia could save Siemens to a sales potential of 30 billion dollars. According to industrial circles, the company had good concrete opportunities for a large order of up to $ 20 billion, which is now at risk. Kaeser did not want to confirm this, but the conference has recently emphasized the annual press conference that such large potential contracts have also secured employment in Germany.

The Supervisory Board understands the difficult situation of Kaeser. "In fact there is a dispute," said one Handelsblatt inspector. "It's hard to get out of the moral discussion, and it's not quite fair." Large ponds were built mainly in countries where industry and society were still evolving. It's about many jobs. It was OK that Kaeser had canceled in the situation heated in Riyadh. But the group does not sell any tools, and it's OK to keep open channels.

In the Kaeser environment, they did not want to decide whether the Siemens manager had actually taken part in the Aramco event at the end. The subjects are in flux, Kaeser observes the development exactly.

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