Finland's Salcomp buys Nokia's defunct unit near Chennai for Rs 215 cr

Salcomp may start operations at the plant by next year, is likely to invest $300 mn over next 5 years

After nearly six years, the doors of Nokia's Chennai plant, shut due to a tax dispute, are expected to reopen as Finland-based Salcomp, one of Apple’s major suppliers, has agreed to buy the unit for around $30 million (Rs 215 crore).

The factory has been shut since 2014 after a dispute between the Finnish mobile handset maker and tax authorities.

Confirming that the company had reached an agreement with Salcomp for the sale of its facility in Sriperumbudur, Chennai, a Nokia spokesperson said the firm was hopeful of "continuing" support from the authoritities in securing the necessary clearances to complete the sale.

Salcomp