Canada investing $40M in Nokia partnership

Originally published by The Wire Report

The federal government will give Nokia Corp. up to $40 million for a number of the company’s projects in Canada.

It said in a press release the investment, through its Strategic Innovation Fund, will go toward the Finnish company’s projects in Kanata and Mississauga, Ont.

“Nokia’s products will improve how data is routed and how optical networks are managed,” it said, adding that the company would also “develop cybersecurity tools to protect telecommunications networks and establish a new Nokia Bell Labs presence in Canada to conduct research to help telecommunications networks meet the needs of 5G technology.”

The announcement comes in the middle of continuing political controversy over whether the government should ban equipment from Nokia rival Huawei Technologies Co. Ltd in the buildout of Canada’s 5G networks.

Shaw Communications Inc. has partnered with Nokia for its 5G initiatives, while companies like BCE Inc. and Telus Corp., whose networks use Huawei equipment, could face financial consequences as the result of a potential ban.

The release also said the government would invest up to $35.7 million in a partnership between Siemens AG’s Canadian division and the New Brunswick and Nova Scotia power utilities for research and development of electrical smart grid technology.

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