Nokia has announced that it will make approximately $75 M of fresh investments in its manufacturing plant in Sriperumbudur, Chennai, India, in 2008. This investment is geared towards enhancing the capacity of the manufacturing plant to cater for the burgeoning need of the Indian and other emerging markets.
Raimo Puntala, senior vice president, operations and logistics, Nokia, said, "We are extremely pleased with the progress made by our manufacturing plant in Sriperumbudur, Chennai. The decision to make additional investment in the plant is a reflection of our commitment to the Indian mobile communications industry and of the increasing demand for mobile devices from Asia, Middle East and Africa. Nokia will continuously strengthen its manufacturing network to drive greater agility within the business and increase its competitiveness.”
The company started manufacturing in Chennai in January 2006 and the plant, which currently employs around 6000 people, has achieved the distinction of the fastest ramp up by any Nokia factory worldwide. The plant plays an integral role in the company's global production network of mobile devices. Currently, approximately 50 percent of the production is consumed domestically and the rest is exported to countries across the Middle East and Africa, Asia, Australia and New Zealand.