Siemens Energy and conglomerate Andrade Gutierrez have won 1 billion euro ($1.1 billion) contract to build a 1.7 gigawatt combined cycle power plant in Brazil, the German group said on Tuesday. The contract has been awarded by Gas Natural Acu (GNA), a joint venture of Siemens Energy, BP, Prumo Logistica and China's State Power Investment Corp, and is the follow-up order to a first plant, GNA I, which entered service in summer. Siemens Energy, which was spun off from Siemens AG last year, did not provide a breakdown of the contract value for GNA II, which will start operations in 2023.
Shares in Siemens Healthineers rose on Wednesday after the German health group said it expected its newly-acquired Varian business to grow faster than other divisions in the coming three years, boosting the group's revenue. Healthineers said revenue at Varian, the U.S. cancer treatment specialist it bought earlier this year in a $16.4 billion deal, should grow between 9% and 12% each year with operating return on sales rising to well over 20% until 2025. The company raised its synergy targets from the Varian takeover to more than 350 million euros ($396 million) by 2025, from a previous goal of 300 million euros.
It's likely that the separate businesses will outperform once they are set free from a conglomerate structure.