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Coimbatore
TN govt trying to revive Nokia plant in Sriperumbudur
June 29, 2016
Talks on with Taiwanese mobile major Foxconn to take over the closed manufacturing unit
Tamil Nadu government is in talks with Foxconn of Taiwan to revive the Nokia mobile phone manufacturing unit that was shut down throwing thousands out of jobs. The plant was located at Sriperumbudur just outside Chennai on the Bangalore highway.
Its closure sent a wrong signal to the investor community as well, which is why the government is very keen that it gets the plant revived with the help of Taiwanese phone manufacturer. TN government officials are in talks with the company officials and even chief minister J Jayalalithaa sought central help in resolving old tax issues that would help reviving the closed unit.
Jayalalithaa during her talks with Prime Minister Narendra Modi when she called on him in New Delhi after her victory in assembly elections, raised the issue of revival of electronic manufacturing hub of Sriperumbudur, where Nokia had its largest facility to manufacture mobiles in the world.
A retrospective tax regime brought in by the UPA government forced Nokia to shut its plant down in November 2014, throwing more than 15000 people out of jobs.
Jayalalithaa had reminded the prime minister of his promise made in Rajya Sabha to help the revival of the manufacturing facility. She informed Modi that M/s Foxconn had recently come forward to takeover and revive the plant.
But, she said, “to enable such a takeover, the Government of India would have to facilitate the defreezing of Nokia’s assets, frozen by an order of the Delhi High Court in an Income Tax case, by arranging for the proceeds of the sale/lease transaction to be paid into a separate escrow account to meet the final tax liabilities.”
Only such action can help the plant is revived, restoring jobs to thousands of people. She sought his immediate intervention to support the TN government initiative to revive the global manufacturing facility at Sriperumbudur.
Incidentally, the TN government’s revival plan was outlined by TN governor K Rosaiah in his address to the assembly.
