Siemens to invest $310 million in Asia

Siemens plans to invest US$310 million over the next few years to increase its presence in Asia.

The Company is planning to spend $250 million by mid-2003 on its newly-established research and development centers in Beijing, Shanghai and Singapore.

A further $60 million are earmarked for capacity expansion in the Siemens handset manufacturing plant in Shanghai.

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