Reuters reports that Finland’s Salcomp, a supplier for Apple, will invest 20 billion rupees ($278.67 million) in India to make mobile chargers and other smartphone components starting in March 2020, according to Ravi Shankar Prasad, the country’s technology minister.
The supplier has reached an agreement to take over a facility, formerly owned by Nokia, in the southern Indian city of Chennai and will begin operations at the site by March, he added. Salcomp, a major supplier of iPhone chargers, has reached an agreement to take over the entire facility of Nokia handsets lying closed for the past so many years, Reuters notes.
“I can tell you apart from chargers and other equipment it will lead to a diversified product portfolio,” Prasad said, adding that Salcomp would invest the 20 billion rupees at the site over the next five years.
The move is expected to generate jobs for about 10,000 people, he said.Reuters
