By Max Bernhard

Siemens AG (SIE.XE) said Monday that it has been awarded a contract to build a 2.2 megawatt electrolysis plant for Salzgitter AG (SZG.XE).

The new plant is expected to start operating in the fourth quarter next year, with the necessary electrical power to be generated by wind turbines.

The cost of the project amounts to 50 million euros ($55.2 million), Siemens said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

November 18, 2019 07:09 ET (12:09 GMT)

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