Siemens launches regional company in Oman
Siemens AG, the global electrical engineering and electronics company has inaugurated Siemens LLC, its new regional company for Oman formed as a joint venture with Waleed Associates.
The announcement came at a ceremony hosted by Dr. Omar bin Abdul Muniem Al Zawawi, President of the OMZEST Group of companies (the parent company of Waleed Associates) and Dr Klaus Kleinfeld, President and CEO of Siemens AG.
“Our expansion in Oman demonstrates our ongoing commitment to our customers in this dynamically growing region,” said Dr. Kleinfeld. “We will be able to further develop and dedicate our experience for them, jointly creating innovative solutions that will add a lasting value to our customers’ businesses.”
The formation of the regional company comes at a time when the Omani market is poised for a major expansion drive. It builds on the existing strengths of Siemens in the region and specifically so, in Oman. “Siemens has been active in Oman for over 30 years and has had a continuous physical presence here since the early 1980s,” explained Ralf Fueller, CEO of Siemens LLC Oman.
The creation of Siemens LLC also consolidates the 35-year relationship between Siemens AG and Waleed Associates, starting with the first agreement signed in 1972. Throughout the last three decades Siemens has realised several regional ‘firsts’, such as Oman's colour TV station. Siemens has been particularly instrumental in the rapid development of Oman’s telecommunications networks, including the region’s first EWSD (Siemens Digital Switching System) project in 1983 and the launch of the first totally Siemens-built GSM network in 1996.
The formation of Siemens LLC in Oman comes as the Middle East region is undergoing a major expansion in infrastructure. “Our key strength is in helping nations build infrastructure,” explains Fueller. “From industrial automation to power generation and distribution, Siemens provides a complete range of technology. As urbanisation becomes a growing force worldwide, infrastructure must be built to integrate cost-efficient and scalable technology. At Siemens, our focus is on providing such solutions for growing societies.”
“The Oman Government’s strategy ‘Vision 2020’ is focusing on diversification away from the current reliance on oil, to fostering foreign investment and developing the tourism and petrochemical sectors” continued Fueller. “With the establishment of a fully-fledged Regional Company in Oman, Siemens will be better positioned to play a significant role in the further development of Oman, not just with physical presence but also with the expertise of our global network of innovation.”
© 2006 Al Bawaba (www.albawaba.com)