Nokia gets nod for telecom SEZ in TN

Nokia has been allotted 210 acres & plans to invest $100-150mn for the project.

Nokia India Pvt Ltd, the Indian arm of the world's largest telecom handset and network major Nokia Global, is planning to invest around $100-150 million in setting up a special economic zone (SEZ) in Sriperumbudur, Tamil Nadu.

The department of commerce granted an approval in principle to the project on Tuesday. When contacted, Sanjeev Sharma, MD, Nokia India, confirmed the plan to set up a sector-specific SEZ.

"We have been allotted 210 acres for setting up the SEZ in Sriperumbudur. This is the same area that has been allotted to us for setting up the handset manufacturing unit. As per our request, the government has now granted us SEZ status," he said.

The SEZ will be used for the manufacture and assembly of electronics, telecommunication equipment, IT hardware, development of software, research and development activities and other services in telecommunications.

"At present, Nokia is in discussions with its partners worldwide to bring them to India "" to the SEZ "" to set up their manufacturing units here," he said, adding that since talks were on, it was too early to specify which suppliers and vendors would set up units in the SEZ.