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Nokia announces investment of USD 75 million in its Chennai manufacturing plant in India

(PresseBox) (Chennai, India, ) Nokia today announced fresh investments of approximately USD 75 million towards its manufacturing plant in Sriperumbudur, Chennai, India, for the year 2008. This investment is geared towards enhancing the capacity of the manufacturing plant to cater to the burgeoning need of the Indian and other emerging markets. The manufacturing plant currently employs approximately 6000 people.

Nokia started manufacturing in Chennai in January 2006 and has achieved the distinction of the fastest ramp up by any Nokia factory worldwide. The plant plays an integral role in Nokia's global production network of mobile devices.

"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 Nokia's 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", said Raimo Puntala, Senior Vice President, Operations and Logistics, Nokia.

Currently, approximately 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.