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Nokia plans US$1.2bn industrial park in Beijing
Posted: 08-May-2000 [Source: FT]

[Nokia's Chinese mobile development center is expected to be the largest foreign-funded project in Beijing.]

By Sarah Wilson -- "Nokia on Monday announced a 10bn ($1.21bn) industrial park project in Beijing designed to develop wireless communication technologies, the Chinese media reported.

"Construction has begun on the Xingwang (International) Industrial Park in south-east Beijing, which is expected to generate 50bn of sales annually and create 10,000 jobs.

"Half the investment in the project is to come from Nokia, the Finnish telecommunications equipment maker, with the rest provided by companies that will open plants in the park.

"The indentity of the other partners has not been revealed. But it is believed they are groups that produce semiconductors, batteries and other electronic components.

"Xingwang will be the single largest foreign-funded project in Beijing, and is scheduled for completion in three years. It will focus on manufacturing, marketing and developing mobile telecommunications products.

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