Nokia’s Chennai Plant Revival Plan Gathers Steam
Nokia manufacturing facility in Chennai that closed down last year and which resulted in thousands of job losses may soon be revived. The finance minster of India, Arun Jaitley has received a proposal for 2revival of the Nokia factory as a contact-phone manufacturing unit, till a potential buyer is identified. This has to be done as a special purpose vehicle unit where the government needs to put it money and working capital so that manufacturing can start in the closed Nokia unit.
It was earlier reported earlier that Essar Group was interested in buying the Nokia plant but later thet talks didn’t go through with the Tamil Nadu government. Meanwhile the new proposal for the Nokia phone manufacturing unit revival is formulated by team comprising people from the government and industry. Department of IT and Electronics experts as well as top notches from Samsung and Micromax have come up with this plan.
The closure of Nokia plant has been seen as a jolt to the Tamil Nadu government which has recently concluded a Global Investors Meet where the state government was able to get more than Rs 2 lakh crore worth of investments. The state government will definitely would like to take this black spot out of their books and would try and do everything they can to revive the Nokia manufacturing unit.
For the sake of employees who have lost jobs due to closure of this Nokia unit, it will be a great news for them if the Nokia unit opens and manufacturing of phones again starts on a contract basis which the government can overlook.