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NSN plans $100 Mn investment in India
By siliconindia
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Tuesday, 03 July 2007, 19:30 IST
Mumbai: Nokia Siemens Networks (NSN) has announced its plans to invest $100 million in the country over the next three years as a part of its commitment to develop a strong telecommunications environment. NSN is an equal partnership joint venture between Nokia's Network Business Group and Siemens.
Setting up of the proposed telecommunication equipment manufacturing facility in Tamil Nadu for wireless network equipment, new offices across various cities, development of the existing R&D centre and expanding the Global Networks Solution Centre are included in this investment reported Business Standard
Simon Beresford-Wylie, CEO, Nokia Siemens Networks, announced the investment plans during his three days visit to India, "The Indian telecommunications market is entering into 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," said Beresford-Wylie.
The proposed facility aims to address the strong market demand in the country and will manufacture high-end equipment. Nokia Siemens Networks will also establish a network of suppliers, with a focus on increased localized sourcing. The construction work at the site would begin later this year, and commercial production is expected to begin in 2008.