Nortel Invests in Australia
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[Sydney, AUSTRALIA] The Federal Government has welcomed a decision by Nortel Networks to invest a further AUS $100 million (US $60 million) in a new photonics facility that will create 640 new jobs.
Nortel Networks has announced a doubling of its global Optical Internet production capacity over the next 18 months in centers throughout Australia, North America and the United Kingdom.
"Nortel's investment is a glowing endorsement of Australia's international competitiveness as a new economy and the Government's commitment to maximizing the opportunities arising from the burgeoning IT sector," said the Minister for Communications, Information Technology and the Arts, Senator Richard Alston.
"Australia will be a major beneficiary from Nortel's new photonics facility locally manufacturing components in Sydney."
Nortel Networks has undertaken over AUS $540 million (US $324 million) of industry development as part of the Partnerships for Development program for over 10 years, according to the company.
The decision follows the announcement earlier this week by IBM Australia that it will establish a AUS $23 million Asia Pacific e-business center in Sydney.