IT campus on Nokia Siemens land in Kolkata
AN e-commerce joint venture between Tata Steel and Steel Authority of India (SAIL), Mjunction Services Ltd, plans to acquire a 9 acre plot in Kolkata.
Nokia Siemens Networks (NSN) runs a loss-making landline gear manufacturing unit in the land.
As Nokia Siemens is likely to shut down its Kolkata plant as part of a global decision to sell non-profitable fixed-line assets worldwide to cut losses, the e commerce group is expressed its interest on buying the land.
The state government also has told Siemens to honor its earlier pledge of setting up an IT park within the complex as a majority of the land is idle.
The government has directed Siemens to either set up an IT park or vacate the land, since there is serious paucity of land for IT projects in Kolkata.
Though the factory building and equipment were handed over by the erstwhile Siemens Public Communication Network Ltd (SPCNL) to NSN five years ago post-formation of the Nokia Siemens JV, the land remains with Siemens.
After confirmation of the deal the commercial real estate properties in Kolkata will get a new project.
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Source: Indian Realty news
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