FRANKFURT, Germany (AP) -- Industrial conglomerate Siemens AG said Wednesday that it plans to invest an extra euro150 million ($200 million) in China over the next three years, with some of the money going into alternative energy production.
The Munich-based maker of everything from trains to light bulbs said the spending comes on top of planned investments of about euro1 billion through 2010 that it announced in 2006.
It will go, among other things, to expand production capacities for alternative energies, Siemens said in a statement.
"China is our largest market after Germany and the U.S. and a key driver of our worldwide business," Siemens Chief Executive Peter Loescher said. "With the planned investments, we want to further expand our presence in this vital market."
Siemens said China is planning water, energy and transportation projects as well as advances in environmental protection among other measures aimed at stimulating its domestic economy.
Siemens shares were up 3.4 percent at euro46.33 ($61.61) in Frankfurt trading.