Nokia Siemens JV to set-up m'facturing unit

NEW DELHI: Even as the Nokia Siemens Networks JV is yet to take shape, the company has finalised to set-up a manufacturing facility near Chennai in India.

Jukka Lehtela, Nokia’s director for Indian operations said Nokia Siemens Network is looking out for a place near our Sriperumbudur factory near Chennai, to manufacture Base Station Receivers for the telecom industry, as well as other high-end products, once the deal gets through.

"The finalisation of the JV would take place in the next two months," he told CyberMedia News in Delhi.

Meanwhile, the Union Cabinet, which met under the chairmanship of Prime Minister Manmohan Singh, approved the company’s foreign direct investment (FDI) proposal to the tune of Rs 12.425 crore.

With the approval in place, Nokia would now convert the operating company into a holding company and make further downstream investment in manufacturing and marketing of telecom equipments.

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