Info-tech

We have good, strong buyers for Chennai plant: Nokia CEO Suri

Thomas K Thomas Mumbai | Updated on January 24, 2018 Published on February 12, 2015

bl01_blter_noki+BL01_IT_NOKIA.jpg.jpg



Nokia says it has received expressions of interest from multiple entities to acquire its mobile handset manufacturing plant in Sriperumbudur, near Chennai.

Speaking to BusinessLine, Rajeev Suri, President and CEO of Nokia Corporation, said he was confident of getting the factory released by the tax authorities to conclude the sale deal.

“We are working on de-freezing the asset. We have good, strong buyers. I am confident both these things will happen in the not-too-distant future. If we get this plant in the right hands, it will have a positive impact on the entire ‘Make in India’ programme,” he said. Suri, however, did not disclose the names of the potential bidders.

Nokia could not include the Chennai factory in its sale deal with Microsoft after tax authorities slapped a notice on it for alleged violation of withholding tax norms since 2006.

While Nokia has challenged the tax order in court, it has also been urging the Government to de-link the tax issue from the manufacturing plant. The facility at one time employed 8,000 people directly and was Nokia’s biggest plant globally. Suri met Prime Minister Narendra Modi on Wednesday in a bid to get the freeze order lifted.

Published on February 12, 2015
This article is closed for comments.
Please Email the Editor