Siemens, a Germany-based multinational conglomerate corporation and industrial manufacturing company, has announced plans to invest €160m ($176m) to open a new Spanish headquarters building in Madrid. The ‘smart campus’ will comply with the highest environmental, sustainability and governance standards and will cover 22,000m².

The building will be located in the north of the Spanish capital, and the company says it will be fitted out with its “most advanced digital solutions and smart building and infrastructure”. It will also be carbon neutral, and construction will be completed in 2028.

Siemens‘ global headquarters are located in Munich, Germany. The company has more than 300,000 employees worldwide, and operations in some 190 countries and territories.