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Mon 11 Jul 2016 02:39 PM

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Siemens says cannot confirm $550m Saudi gas deal

German engineering group has reportedly beaten rival GE to win gas turbine deal with Saudi Arabia

Siemens says cannot confirm $550m Saudi gas deal

German engineering group Siemens has said it could not confirm or deny it had sealed a 500 million-euro ($550 million) gas turbine deal with Saudi Arabia after German newspaper Handelsblatt's global edition said the German company had beaten rival GE in securing it.

"We have knowledge of the approval of the project through the (Saudi Arabian) Council for Economic and Development Affairs ... and we are in close dialogue with our Saudi partners," said a spokesman for the Munich-based company.

"Please understand that at this early stage we cannot comment any further on the matter."

Handelsblatt said the kingdom's ambassador to Germany had confirmed to the paper that the project had been approved and that Siemens had secured it.

German media earlier this month said the deal was close to being decided.

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