Nokia To Invest $75 Million In Chennai Plant In 2008
By Nikhil Pahwa - Fri 07 Dec 2007 04:54 AM PST
Nokia (NYSE: NOK) has announced that it intends to invest around $75 million in 2008, in its manufacturing plant in Sriperumbudur in Chennai. The investment will be used to ramp up manufacturing capacity. Currently, around 50 percent of the production from the plant is consumed domestically and the rest is exported to countries across Middle East and Africa, Asia, Australia and New Zealand. The plant was set up in Jan 2006. Earlier this year, the company had announced plans to set up a design studio in India, in collaboration with Srishti School of Art, Design and Technology, a Bangalore-based design school. [via release]
