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Nokia Siemens Networks Asked to Vacate Indian Factory Plot

Nokia Siemens Networks may be asked to surrender the lease on a prime plot of land it occupies in Kolkata following a recent decision to close a small factory there.

The land was actually leased by Siemens on a 99-year contract from the state government nearly 15 years ago as part of an agreement to set up a technology hub in the area.

“The state government will shortly write to Siemens AG to vacate the land, post-shutdown of NSN’s telecom factory since it has failed to come up with an alternate land utilisation plan,” a state bureaucrat told the Economic Times.

The 9 acre plot of priced land was leased to Simens for around Rs 32 lakh per acre, but its value is now understood to be at least ten times that agreement.

The government is understood to have received a number of offers to take over the plot of land, if the sitting tenant can be removed.

NSN recently announced the closure of the factory there, with the loss of 48 jobs. The small landline products factory used to have 65 employees, but a number had already taken voluntary redundancy.

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