Nortel announces US$200 million investment in China

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Last updated at: (Beijing Time) Wednesday, September 24, 2003

Nortel announces US$200 million investment in China

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The world's largest telecommunications company, Nortel, will invest over 200 million US dollars in expanding its research and development abilities in China over the next three years, a top Nortel official has announced.

Frank Dunn, president and chief executive of the Nortel Networks of Canada, said in Beijing that Nortel valued China's 3G,or third-generation, mobile telecom market.

Dunn believed that by 2004 the third generation would have tremendous technological advantages and great market potential in Europe, and China's market would also have good prospects. Nortel would be able to play a bigger role in the Chinese market considering its leading position in 3G technologies.

The investment projects include a 55,000-square-meter Nortel Networks Park to be built in Beijing.

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