Nokia to invest $75 mn in Indian manufacturing plant

Nokia to invest $75 mn in Indian manufacturing plant

Chennai: Mobile handset manufacturer Nokia would invest $75 million more at its Sriperumbudur plant for capacity expansion, taking the total investment in its Indian operations by 2008 to $285 million, a top company official said Wednesday.

“The company has already invested $210 million in the country against a commitment of $150 million and $75 million more is being invested in its Sriperumbudur plant," Nokia India Director (Operations) Sachin Saxena told a press conference here.

The Sriperumbudur plant has already manufactured 60 million handsets in a record 20 months since it commenced production in January 2006. Half of its production at the Sriperumbudur plant is being exported to over 58 countries.

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

The Sriperumbudur plant mainly concentrates on low-cost sets for which there is a growing market in India, he said.

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% are women.