Nokia to invest $285 million for India operations

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In an effort to increase manufacturing capacity and meet growing demands, handset manufacturing giant Nokia will invest US$75 million more at its Sriperumbudur plant, to bring total investment in its Indian operations during 2008 to US$ 285 million.

“The company has already invested US$210 million in the country against a commitment of US$ 150 million and US$75 million more is being invested in its Sriperumbudur plant,” Sachin Saxena, director, operations, Nokia India, told the media.

The Sriperumbudur plant had already manufactured 60 million handsets in a record 20 months since it commenced production in January 2006. Around 50 per cent of the produce from this plant is being exported to over 58 countries.

The new investment would also help in increasing the product profile of the plant.

The Indian plant has become the fastest growing Nokia factory in the world, he said, attributing the rapid growth to low cost and highly skilled personnel. Of the 6,000 employees of the plant, 70 per cent are women. Nokia had nine manufacturing facilities in the world.

– Bengaluru Bureau

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