ERLANGEN, Germany, July 13 (Reuters) - Siemens (SIEGn.DE) will spend 1 billion euros ($1.12 billion)on new factories and facilities in Germany, the engineering company said on Thursday, as Berlin published a strategy paper highlighting the economic and security risks of investing in China.
News of the Erlangen investment came as Berlin published a paper responding to a more assertive China, which included warnings about security risks of investing in the country.
Siemens, which last month unveiled a 2 billion euro global investment plan, said it was investing in Germany to accelerate growth and also "increase its resilience."
"Siemens is banking on innovation in Germany and launching the next stage of digitalization," Siemens Chief Executive Roland Busch said on Thursday.
Under its global investment plan Siemens is also expanding its digital factory in Chengdu and building a new R&D centre in Shenzhen.
Persons:
Chancellor Olaf Scholz, Roland Busch, Busch, Siemens, Alexander Huebner, John Revill, Tomasz Janowski
Organizations:
Siemens, Siemens Healthineers, Thomson
Locations:
ERLANGEN, Germany, Berlin, China, Erlangen, Beijing, Europe, United States, Chengdu, Shenzhen, Siemens's, Forchheim, Nuremburg, Zurich