Nokia Siemens to invest $100 mln in India

HELSINKI, July 2 (Reuters) Nokia Siemens Networks said on Monday it plans to invest 0 million in India in the next three years to benefit from a fast-growing market.

As a part of the investment, it will set up a telecom equipment plant in the country. Construction of the high-end wireless network equipment facility in Tamil Nadu will begin later in 2007 and commercial production is set to start in 2008, Nokia Siemens (NSN) said in a statement.

''The Indian telecommunications market is entering a next wave of growth; one that will see a rapid build out of mobile and broadband networks outside the major cities and delivery of a host of new services to consumers across the country,'' NSN Chief Executive Simon Beresford-Wylie said in a statement.

NSN said it would also set up new offices across various cities, develop further its research and development centre, and expand its global networks solutions centre.

The company also said it would also establish a network of suppliers, focusing on localised sourcing.

Shares in Nokia were down 0.2 percent, while Siemens was down 0.7 percent by 1137 GMT.

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