Nokia will invest approximately US$75 million to upgrade its manufacturing plant in Sriperumbudur, Chennai, India, during 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 6,000 people.
Nokia started manufacturing in Chennai in January 2006. The company said the facility has achieved the distinction of the fastest ramp up by any Nokia factory worldwide. 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.
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