Nokia was forced to keep the factory out of a US $7.5 billion deal for sale of its handset business to Microsoft, due to tax disputes with the government.
IL&FS is also in talks with sovereign funds like the Finnish pension fund and export import bands to participate in the newEnvironmental Sustainable Infrastructure Fund.
The two sides are also likely to firm up pacts for enhanced cooperation during President Pranab Mukherjee's three-day state visit to the Nordic state.
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