CHENNAI: Aspocomp, a Finland-based company engaged in manufacturing high-density interconnection printed circuit board (HDI-PCB), plans to set up a printed circuit board plant in the Nokia Telecom Park.

The plant will be India's first high-density interconnection printed circuit board facility and will be set up with an investment of $100 million in the first phase, according to Maija-Liisa Friman, Chief Executive Officer, Aspocomp.

Addressing a press conference here on Wednesday, Ms. Friman said the initial investment would be $100 million and the company would infuse another $100 million in the second phase. She said the bhoomi pooja for the company was done earlier in the day. The project would be financed with long-term loans raised by the parent company and the Indian subsidiary. The unit was planned to become operational during the second half of 2007 and go on full stream in 2008.

The Aspocomp India facility would come up on 16 acres and the building area would be located in 33,000 sq. metres.

The plant was designed to be a "zero discharge" facility in compliance with the strict environmental guidelines of the company. The plant would provide employment to 1,500 people in the first phase and it would have 2,700 people on completion of the second phase.

The plant would have a capacity to build 100 million HDI-PCB's by 2011. However, it would produce 50 million HDI-PCBs in the first phase. There were also plans to have R&D facilities in Chennai.

It was expected that another major component manufacturer, Perlos Corporation, would set up its unit in the Nokia Telecom Park.

According to Nokia, it wanted to create a network of co-located and co-dependent partners that operate to world class standards.

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