Advertisment

Nokia Siemens to invest $100mn in India

author-image
CIOL Bureau
Updated On
New Update

MUMBAI: Nokia Siemens Networks has announced its plans to invest $100 million (Rs 410 crore) in the country over the next three years as a part of its commitment to develop a strong telecommunications environment in India. This investment will include setting up a proposed telecommunication equipment manufacturing facility in Tamil Nadu for wireless network equipment, new offices across various cities, additional development of an existing R&D centre, and expanding the Global Networks Solution Centre.

Advertisment

The investment plans were announced by Simon Beresford-Wylie, CEO, Nokia Siemens Networks on the first day of his three-day visit to India. Beresford-Wylie, said: "The Indian telecommunications market is entering a next wave of growth; one that will see a rapid build out of mobile and broadband networks outside the major cities and delivery of a host of new services to consumers across the country."

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.

Headquartered at Gurgaon, the company has a presence in over 170 locations across the country. Its operations in India include sales & marketing, R&D, manufacturing and global networks operations centre.