Nokia of Finland has finalized Chennai as the
location for its proposed plant for manufacturing mobile handsets in India. The
facility would be located on a 210-acre site in Sriperumbudur, about 40 km from
Chennai.
Nokia is likely to invest $150 million in the
facility that would employ around 2,000 persons once full production commences.
Besides, the plant will also see investment worth $150 million from Nokia
suppliers that would be housed in the production facility.
Construction work on the plant will start in
April 2005 itself, and production is likely to begin in the first half of 2006.
The Chennai unit would be Nokia's tenth globally, and the first in India.
Also See:
Nokia
scouting for manufacturing sites (05-Feb-05)