Nokia India to invest $75 million
06 Dec 2007
Chennai: Nokia India has decided to invest $75 million at its Sriperumbudur plant, near Chennai. Till date the company has invested around $210 million and with the fresh one planned the total investment would be double that of what Nokia India had committed at the time of setting up its Indian operations a couple of years ago.
According to Sachin Saxena, director, operations, the Indian plant makes low-cost fast moving products for the domestic and export markets.
Last year the company had an export turnover of Rs.1200 crore. The company now plans to ship out 50 per cent of its expanded capacity, up from the nearly 30 per cent that it exports to the Middle East, Asia, Australia and New Zealand .
Last year the company made 25 million handsets, this year in the first six months it has already made 60 million handsets, he said.
Currently Nokia employs around 6000 people and the number is set to increase with the fresh investment.
The Finnish handset maker has brought some of its vendors to Sriperumbudur. Nokia and its vendors operate out of the Nokia Special Economic Zone.
Saxena said when the 210 acre special economic zone becomes fully functional it would have around 30,000 people working.