New Delhi: Global telecom equipment maker Nokia Siemens Networks on 2 July announced plans to invest USD 100 million in the country over the next three years to set up a high-end wireless products manufacturing facility in Tamil Nadu, among other initiatives.
The proposed facility aims to address the strong market demand in India and will manufacture high-end equipment.
Nokia Siemens Networks will also establish a network of suppliers with focus on increased localised sourcing. The construction work at the site will begin later this year and commercial production is expected to begin in 2008.
The investment will also go towards development of an existing research and development centre and expanding the global networks solution centre, a statement said quoting Nokia Siemens Networks CEO Simon Beresford-Wylie, who is on his first visit to the country as head of the newly-formed company.