"Siemens intends to build a new, state-of-the-art Digital Industries (DI) factory in Singapore - as part of its strategy to strengthen global diversification and resilience," a spokesperson for the company told Reuters.
The company will announce further details of its plans on Thursday, the spokesperson said.
The project's price tag is estimated to be at a low three-digit million-euro sum, Wirtschaftswoche magazine, which first reported the news, said, citing company sources.
Chief Executive Roland Busch had originally favoured China as a location for the new factory but he faced resistance from the supervisory board which had concerns over the growing geopolitical tensions there, Wirtschaftswoche said, adding that the plant would be a "twin" of the company's factory in Amberg, south of Germany.
