Follow Us:
Monday, December 16, 2019

Salcomp to take over Nokia’s Sriperumbudur plant, Tamil Nadu govt expects Rs 1,300 crore investment

The Tamil Nadu government on Tuesday said it expects Salcomp, the largest manufacturer and supplier of chargers for Apple iPhones, to make investments of around Rs 1,300 crore over the next five years at Sriperumbudur.

By: PTI | Chennai | Updated: November 27, 2019 3:47:31 pm
The government said the initiative by Salcomp Manufacturing to purchase the Chennai plant was a major victory to it, the unit would revive the Nokia SEZ in Sriperumbudur.

With Salcomp set to take over Nokia’s defunct facility at Sriperumbudur, the Tamil Nadu government said it expects the largest manufacturer and supplier of chargers for Apple iPhones to pump in around Rs 1,300 crore over the next five years.

The state government in an official release on Tuesday said the Finland-based Salcomp Manufacturing India had signed a memorandum of understanding during the second edition of Global Investors Meet held in January to manufacture mobile chargers at the Nokia Telecom Special Economic Zone. Through this initiative, 5,600 new jobs were expected to be created.

FIH India Developer Pvt Ltd, a unit of Taiwan-based Foxconn, also had signed an MoU with the state government to invest Rs 2,500 crore for production of electronic equipment that would generate 20,000 new jobs, it said.

“Currently, Salcomp Manufacturing has reached an agreement to purchase the Chennai plant and is expected to commence mobile chargers production from March 2020.”The company is expected to make investments of Rs 1,300 crore during the next five years and additional 10,000 jobs will be created,” it added.

The government said the initiative by Salcomp Manufacturing to purchase the Chennai plant was a major victory to it, the unit would revive the Nokia SEZ in Sriperumbudur. “The government will continue to take necessary steps to make Sriperumbudur as one of the major electronic equipment manufacturing zone (in future),” the release said.

On Monday, IT Minister Ravi Shankar Prasad had announced that Salcomp has reached an agreement to take over the entire facility of Nokia handset that was lying closed for 10 years. He said it would become operational from March 2020. The unit would manufacture chargers and other equipment.

For all the latest Chennai News, download Indian Express App

Advertisement
Advertisement
Advertisement
Advertisement