Wednesday , March 3 2021

Joe Kaeser plans to travel to Saudi Arabia

Munich, BerlinThe wealth of oil in Saudi Arabia magically attracts Joe Kaeser. After Siemens CEO recently canceled his participation in the Future Investment Initiative in the future, Davis in the desert, apparently plans a different trip to the kingdom.

At a conference organized by the world's largest oil company Saudi Aramco, the Munich Technology Group will act as a "platinum sponsor" – and Director General Kaeser will speak on November 26th in a panel discussion on the localization of production in Saudi Arabia.

The show is in a sensitive period in which the brutal assassination of opposition journalist Jamal Khashoggy burdens relations with Saudi Arabia. According to Turkish investigators, Khashoggi killed a special forced Saudi command at the Royal Consulate in Istanbul.

During the weekends, the US media reported that the CIA had allegedly assassinated Mohammed bin Salman in person. According to a report by Washington Post, for which Khashoggi wrote as a columnist, Brother Khashogghi's brother assured him that he was safe at the embassy's visit. It is not clear whether Brother Khalid bin Salman knew of the planned murder. However, it seems certain that the call was made at the request of the Crown Prince.

Donald Trump said on Saturday that he had received reports from the US intelligence agency CIA. The US president has announced that he will publish a comprehensive report on the Khashoggi case in the coming days. The US has already imposed sanctions on Thursday for 17 individuals.

The fact that Siemens CEO Kaeser is now planning a trip to Saudi Arabia could become a target of criticism. It was only in October that Kaeser stayed away so that he had withdrawn his participation in the Riyadh Forum of Investors that the usual high standards of morality that represented the top executives had a strong criticism. Jamie Dimon (JP Morgan), Richard Branson (Virgin Group) and IMF chief Christine Lagarde have already withdrawn considerably before him. Siemens was so late for the company to pay for its stall at "Davos in der Wüste".

Come with the ministers

In Dhahran, Saudi Arabia's headquarters, Kaeser is now discussing the "Vision 2030", a massive reform program for the huge critical Prince Salman. According to the program "At a Common Value Added Conference in the Kingdom" (Iktva), Siemens will discuss how to increase the UK's industrial output in the future and how Saudi Arabia could become a production hub for the whole region.

Kaeser will talk with Vice President Aramco, the Serbian Vice President for Energy and Industry, the leader of the initiative for the localization of the southerly industry and the general directors of the American Jacobs Group.

Siemens joined the Aramco joint venture with Texas-based oil service company Rowan, ARO Drilling and the Saudi oil supplier of Nesma Platinum. Foreign companies such as McDermott (USA), Sinopec (China) or Saipem (Italy) participate as gold or silver sponsors with lower amounts.

Saudi Arabia is an important sales market for Kaeser. Among other things, Siemens produces turbines in the east – where large oil fields are located. In Riad, the Germans are involved in the construction of the metro. In addition, Kaeser is dealing with the Dresser-Rand oil service company. The US company, which bought it for $ 7.6 billion in 2014, was criticized by many as too expensive. Aramco, as the world's largest oil producer, is considered an important potential buyer for the division.

Kaeser is traveling in the Serbian kingdom with a great personal commitment, as well as in Egypt, Iraq and other Arab countries.

For a long time, 61-year-old Niederbayer could also rely on political support. But good relations between Germany and Saudi Arabia have been much colder for some time. And not just after Khashoggy's murder. Sharp comments on the "foreign adventure" of the Kingdom of Sigmar Gabriel (SPD) last year also angry Riyadh.
Since November 2017, the state has withdrawn its ambassador from Berlin for almost a year. At the time of his statement, Gabriel was the German Foreign Minister. The turbine model Siemens, which has adorned the Reception Hall of the Saudi Embassy at Spree for a long time, disappeared after the return of a top diplomat from Riyadh.

Until now, Siemens confirmed only that Kaeser will be a speaker at the congress. He continues to use what he said when canceling riads. During this time, Kaeser stressed that in the Khashoggi case, the truth must be discovered and justice done. At the same time, Kaeser stressed the importance of dialogue.

It's always better to talk to each other and not to each other. In: He suggested that "Saud's Vision 2030" could save Siemens a sales potential of $ 30 billion. After industrial circuits, the company has good options for a larger volume of up to $ 20 billion, which is now at risk. Kaeser did not want to confirm this, but he recently stressed at an annual press conference that such great potential contracts have also secured employment in Germany.

The Supervisory Board understands the Kaiser's difficult situation. "It's really a dilemma," said Handelsblatt inspector. "It's hard to get out of a moral debate and it's often not fair." Large power plants were built primarily in countries where industry and society are still developing. It is right that Kaeser resigned in the heated position of Riyadh. But the group does not sell weapons and it's right to run channels.

In Kaeser, they did not want to decide whether Siemens would actually participate in the event in Saudi Aramco at the end. The themes are in progress, Kaeser closely observes the development.

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