Siemens to invest 500 million euros in Colombia energy, infrastructure

FILE PHOTO: The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann

BOGOTA (Reuters) - Germany-based technology company Siemens SIEGn.DE will invest 500 million euros in energy technology and transmission and transportation infrastructure in Colombia, President Ivan Duque and the company said on Friday.

Duque did not specify in what projects the company would invest, nor the time frame for the investments.

“This morning I told the president and his government that Siemens is ready and willing to invest 500 million euros in Colombia and we have worked together to make that possible,” Siemens president Joe Kaeser said in a government press release.

Duque said the investment showed Colombia is seen as one of the countries that is growing most in Latin America.

The government predicts the Andean country will grow 3.6% this year, while the market expects a less optimistic 3.1%.

Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb and David Gregorio