By Giulia Petroni

Siemens AG (SIE.XE) said Wednesday that it will build an industrial power plant in Germany for chemical group Evonik Industries AG (EVK.XE).

The German conglomerate said the project value is in the lower triple-digit million euro range. The power plant will consist of two units, each with a capacity of 90 megawatts. It will produce electricity and up to 440 metric tons of process steam per hour for a chemical park in western Germany.

In the coming years, the site's network is expected to supply heat for about 2,000 homes. Construction is scheduled to begin later this year and the plant will become operative in 2022.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

September 25, 2019 05:03 ET (09:03 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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